The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement in the previous problem, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. Put “n/a” where needed.

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HEIR JORDAN CORPORATION Balance Sheet Assets Liabilities and Owners' Equity Percentage Percentage of Sales of Sales Current assets Current liabilities Cash $ 3,140 Accounts payable $ 2,600 4,200 5,700 $ 8,300 Accounts receivable Notes payable Inventory 6,500 $13,840 Total Total Long-term debt $28,000 Fixed assets $43,200 Owners' equity $ 5,000 Net plant and equipment Common stock and paid-in surplus Retained earnings 15,740 Total $20,740 Total liabilities and Total assets $57,040 owners' equity $57,040 -