value: 10.00 points Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales Costs $ 46,200 34,200 Taxable income Taxes (30%) $ 12.000 3.600 Net income $ 8.400 Dividends Addition to retained earnings $ 2.800 5.600 The balance sheet for the Heir Jordan Corporation follows. Based on this information statement supply the missing information using the percentage of sales approach. Assul payable vary with sales, whereas notes payable do not. Leave no cells blank - be cer whenever the item is not a constant percentage of sales. Enter each answer as a pe 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 2 decimal places, e.g., 32. 16.) HEIR JORDAN CORPORATION Balance Sheet Percentage of Sale GIILE whenever the item is not a constant percentage of sales. Enter each answer as a percent rounded 2 decimal places, e.g., 32.16.) HEIR JORDAN CORPORATION Balance Sheet Percentage of Sales Percentage of Sales Assets Liabilities and Owners' Equity Current liabilities Current assets Cash Accounts receivable Inventory $ 2,450 4,000 9,000 Accounts payable Notes payable $ 4,000 8,400 Total $ 15,450 Total $ 12.400 $ 21,000 Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings $ 14,000 5,650 Fixed assets Net plant and equipment $ 37,600 Total $ 19,650 Total assets $ 53,050 Total liabilities and owners' equity $ 53.050 Hints References eBook & Resources Hint #1 Type here to search