HEIR JORDAN CORPORATION Income Statement Sales Costs $ 42,000 32,800 Taxable income Taxes (24%) $ 9,200 2,208 Net income $ 6,992 Dividends Addition to retained earnings $ 2.800 4,192 The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, 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. Enter each answer as a percent rounded to 2 decimal places, e.g., 32.16.) Percentage of Sales Assets HEIR JORDAN CORPORATION Balance Sheet Percentage of Sales Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Current assets Cash $ $ 2,400 4,300 Accounts receivable 3,150 4,500 6,400 14,050 Inventory Total current assets $ $ $ 6,700 25,000 Fixed assets Net plant and equipment $ 35,600 Total current liabilities Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total owners' equity Total liabilities and owners' equity $ 13,000 4,950 $ $ 17,950 49,650 Total assets $ 49,650