Consider the following income statement for the HeirJordan Corporation: HEIR JORDAN CORPORATION ncome Statement $47,000 Sales Cost 31,300 $15,700 Taxable income Taxes (35%) 5,495 $10,205 Net income 2,500 Dividends Addition to retained earnings 7,705 The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATION Balance Sheet Assets Liabilities and Owners' Equity Current assets Current liabilities 2,400 Cash 2,950 Accounts payable 5,400 Accounts receivable 4,100 Notes payable Inventory 6,400 Total 7800 Total 13,450 Long-term debt 28,000 Owners' equity Fixed assets Common stock and paid-in surplus 15,000 Net plant and equipment 41,300 Retained earnings 3,950 18,950 Total Total assets 54,750 Total liabilities and owners' equity 54,750 Pranara a pro forma halanca sheet assiminn a 15 nerrant increase no new external deht or