57 es Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales Costs Taxable income Taxes (23%) Net income Dividends $4,100 Addition to retained earnings 3,908 Assets Current assets Cash 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.) Accounts receivable Inventory Total current assets Fixed assets Net plant and equipment Total assets $ $ $ $ 2,600 3,700 9,000 15,300 38,200 $46,500 36,100 53,500 $ 10,400 2,392 $ 8,008 HEIR JORDAN CORPORATION Balance Sheet Percentage of Sales Liabilities and Owners' Equity

Current liabilities Accounts payable Notes payable Total current liabilities Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total owners' equity Total liabilities and owners' equity $ $ $ $ $ $ 2,400 5,200 7,600 24,000 17,000 4,900 21,900 53,500 Percentage of Sales

Consider the following income statement for the Heir Jordan Corporation: 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 " O " 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.)