Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement...
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Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement $49,000 40,300 Sales Cost Taxable income Taxes (22%) $ 8,700 1,914 Net income $ 6,786 Dividends Addition to retained earnings $2,400 4,386 ASSIGNMENT Saved 4. The balance sheet for the Heir Jordan Corporation follows. HEIR JORDAN CORPORATION Balance Sheet Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 2,950 Accounts payable $ 2,400 Accounts receivable 4,100 Notes payable 5,400 ES kipped Inventory 6,400 Total $ 7.800 eBook Total $ 13,450 Long-term debt $28.000 Print eferences Owners' equity Common stock and paid-in surplus Retained earnings Fixed assets Net plant and equipment $ 15.000 $ 41,300 3.950 Total $ 18,950 Total assets $54.750 Total abilities and owners equity $ 54,750 Mic
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