Consider the following income statement for the Heir Jordan Corporation:
HEIR JORDAN CORPORATIONIncome StatementSales $ 48,000Costs 37,400Taxable income $ 10,600Taxes (22%) 2,332Net income $ 8,268Dividends$ 3,100 Addition to retained earnings5,168
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.
Note: 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.