American Laser, Incorporated, reported the following account balances on January 1. The company entered into the following transactions during the year. January 15 Issued 5,000 shares of $1 par common stock for $50,000 cash. January 31 collected $3,000 from customers on account. February 15 Reacquired 3,000 shares of $1 par comthon stock into treasury for $33,000 cash. March 15 Reissued 2,000 shares of treasury stock for $24,000cash. August 15 Reissued 600 shares of treasury stoek for $4,600 cash. September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. october 1 Issued 100,10-year, $1,000 bonds, at a quoted bond price of 101 . ootober 3 Wrote off a $1,500 balance due from a customer who went bankrupt. December 29 Recorded $230,000 of service revenue, a11 of whioh wan collected in cash. December 30 Paid $200,000 cash for thin year'n wages through December 31. Ignore payrol1 taxes and payroll deduetions. December 31 caleulated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income taxes.) AMERICAN LASER, INCORPORATED Classified Balance Sheet At December 31 Assets The company entered into the following transactions during the year. January 15 Issued 5,000 shares of $1 par common stook for $50,000 cash. January 31 Collected $3,000 from customers on account. February 15 Reacquired 3,000 shares of $1 par common stock into treasury for $33,000 cash. March 15 Reissued 2,000 shares of treasury stock for $24,000 cash. August 15 Reissued 600 shares of treasury stock for $4,600 cash. September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common s october 1 Issued 100, 10-year, $1,000 bonds, at a quoted bond price of 101 . October 3 Wrote off a $1,500 balance due from a customer who went bankrupt. December 29 Recorded $230,000 of service revenue, all of which was col fected in cash. December 30 Paid $200,000 cash for this year's wages through December 31 . Ignore payroll taxes and deductions . December 31 calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustm interest and income taxes.) Calculate the Debt to Assets Ratio and analyze the impact of the Debt to Assets Ratio. (Round your answer to 1 deci place.) American Laser, Incorporated, reported the following account balances on January 1. The company entered into the following transactions during the year. January 15 Issued 5,000 shares of $1 par common stock for $50,000 cash. January 31 collected $3,000 from customers on account. February 15 Reacquired 3,000 shares of $1 par comthon stock into treasury for $33,000 cash. March 15 Reissued 2,000 shares of treasury stock for $24,000cash. August 15 Reissued 600 shares of treasury stoek for $4,600 cash. September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. october 1 Issued 100,10-year, $1,000 bonds, at a quoted bond price of 101 . ootober 3 Wrote off a $1,500 balance due from a customer who went bankrupt. December 29 Recorded $230,000 of service revenue, a11 of whioh wan collected in cash. December 30 Paid $200,000 cash for thin year'n wages through December 31. Ignore payrol1 taxes and payroll deduetions. December 31 caleulated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income taxes.) AMERICAN LASER, INCORPORATED Classified Balance Sheet At December 31 Assets The company entered into the following transactions during the year. January 15 Issued 5,000 shares of $1 par common stook for $50,000 cash. January 31 Collected $3,000 from customers on account. February 15 Reacquired 3,000 shares of $1 par common stock into treasury for $33,000 cash. March 15 Reissued 2,000 shares of treasury stock for $24,000 cash. August 15 Reissued 600 shares of treasury stock for $4,600 cash. September 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common s october 1 Issued 100, 10-year, $1,000 bonds, at a quoted bond price of 101 . October 3 Wrote off a $1,500 balance due from a customer who went bankrupt. December 29 Recorded $230,000 of service revenue, all of which was col fected in cash. December 30 Paid $200,000 cash for this year's wages through December 31 . Ignore payroll taxes and deductions . December 31 calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustm interest and income taxes.) Calculate the Debt to Assets Ratio and analyze the impact of the Debt to Assets Ratio. (Round your answer to 1 deci place.)
