income assuming cost is the projected addition to retained earnings: 10. Applying Percentage of Sales (LO3) The statement of financial position for the Dartmoor Corporation follows. Based on this information and the statement of comprehensive income in the previous problem, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. Put "n/a" where needed. Assets DARTMOOR CORPORATION Statement of Financial Position Liabilities and Owners' Equity Percentage Percentage of Sales of Sales Current liabilities $ 2,950 Accounts payable $ 2,400 Current assets Cash Accounts receivable Inventory Total 4,100 Notes payable 5,400 Total 6,400 $13,450 $ 7,800 Long-term debt $28,000 Fixed assets Net plant and Owners' equity Common stock and $15,000 paid-in surplus Retained earnings equipment Total assets $41,300 $54,750 3.950 Total $18,950 Total liabilities and owners equity $54.750 11. EEN and Sul