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Consider the following statement of comprehensive income for the Dartmoor Corporation: DARTMOOR CORPORATION Statement of Comprehensive Income Sales $ 47,000 Cost 31,300 Taxable income $

Consider the following statement of comprehensive income for the Dartmoor Corporation:

DARTMOOR CORPORATION Statement of Comprehensive Income
Sales $ 47,000
Cost 31,300
Taxable income $ 15,700
Taxes (35%) 5,495
Net income $ 10,205
Dividends $ 2,500
Addition to retained earnings 7,705

The statement of financial position for the Dartmoor Corporation follows. Based on this information and the statement of comprehensive income, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank - be certain to enter "0" whenever the item is not a constant percentage of sales. Round the final answers to 2 decimal places.)

DARTMOOR CORPORATION Statement of Financial Position
$ Percentage of Sales $ Percentage of Sales
Assets Liabilities and Owners Equity
Current assets Current liabilities
Cash $ 2,950 Accounts payable $ 2,400
Accounts receivable 4,100 Notes payable 5,400
Inventory 6,400
Total $ 13,450 Total $ 7,800
Long-term debt $ 28,000
Owners equity
Common stock and paid-in surplus $ 15,000
Retained earnings 3,950
Fixed assets
Net plant and equipment $ 41,300 Total $ 18,950
Total assets $ 54,750 Total liabilities and owners equity $ 54,750

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