The United States exports a substantial amount of scrap iron and steel to Japan and other countries.

The balance sheet for the Heir Jordan Corporation follows. Based on this information

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QUESTION:

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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