Question

TE F İNANCE1İ91-1 igital Leaming "C wok4 Week 4 Questions X HEIR JORDAN CORPORAT 48,800 34,800 Costs Taxable income Taxes (30%) 14,000 4,200 Net income 5 9,800 Dividend 3,200 Addition to retained earnings 6,600 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 lLeave no cells blank- be certain to enter 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 Shee Percentag of Sales Liabilities and Owners Equity Curent lablite Current assets Accounts payable Notes payable 2 400 5.300 Cash 5 2.650 3,600 9.000 Inventory 7.700 5 24 000 $18.000 Total S15.250 Long term debt Owners equaity common stock and paida, saplus Retained eamings Fixed assets 521.950 $ 30,400 Net plant and equipment Total abies and dwners equity 5 53.650 O Type here to sear READY FOR YOU

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