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Sales DARTMOOR CORPORATION Statement of Comprehensive Income Costs Taxable income Taxes (359) Net income Dividends Addition to retained earnings $47,000 31,300 $15,700 5,495 $10,205 $2,500
Sales DARTMOOR CORPORATION Statement of Comprehensive Income Costs Taxable income Taxes (359) Net income Dividends Addition to retained earnings $47,000 31,300 $15,700 5,495 $10,205 $2,500 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 "O" whenever the item is not a constant percentage of sales. Round the final answers to 2 decimal places. Omit $ sign in your response.) DARTMOOR CORPORATION Statement of Financial Position Percentage of Sales Percentage of gales Assets Current assets Cash 2.950 Accounts receivable 4,100 Inventory 6.400 Total $13,450 Liabilities and Owners' Equity Current liabilitiss Accounts payable $2,400 Notes payable 5,400 Total $7,000 Long-term debt $20,000 Total Liabilities $35,000 Owners' equity Common stock and paid-in warplus $15,000- Fixed assets 3,950 Katained earnings Not plant and equipment $41,300 Total $18,950 Total assets $54,750 Total liabilities and owners squity $54,750
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