Cedric Productions, reported the following account balances on January 1, Credit Debit $ 5,000 $ 30,000 112,000 2,000 e Accounts Receivable Accumulated Depreciation Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings Cash Common Stock, 10,000 shares of $1 par Notes Payable (long-term) Retained Earnings Treasury Stock TOTALS 269,000 15,500 10,000 15,500 120,000 $ 289,500 $ 289,500 The company entered into the following transactions during the year. January 15 Issued 16,000 shares of $1 par common stock for $72,000 cash. January 31 Collected $3.999 from customers an account he company entered into the following transactions during the year. January 15 Issued 16,000 shares of $1 par common stock for $72,000 cash. January 31 Collected $3,000 from customers on account. February 15 Reacquired 3,220 shares of $1 par common stock into treasury for $35,420 cash. March 15 Reissued 2,220 shares of treasury stock for $26,420 cash. August 15 Reissued 600 shares of treasury stock for $4,680 cash. eptember 15 Declared (but did not yet pay) $1 cash dividend on each outstanding share of common stock. October 1 Issued 100, 10-year, $1,120 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 $252,000 of service revenue, all of which was collected in cash. December 30 Paid $222,000 cash for this year's wages through December 31. (Ignore payroll taxes and payroll deductions.) December 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and i taxes.) Requirement General Journal General Ledger Trial Balance Balance Sheet Debt to Assets Ratio General Journal tab - Prepare the journal entries to record each transaction. Review the accounts as shown in the General Ledger and Trial Balance tabs. General Ledger tab - Each journal entry is posted automatically to the general ledger. Tatab The entien chce will be the values used to populate the balance sheet tabs CEDRIC PRODUCTIONS Classified Balance Sheet At December 31 to search o . C S Requirement General Journal General Ledger Trial Balance Balance Sheet Debt to Assets Ratio Calculate the Debt to Assets Ratio and analyze the impact of the Debt to Assets Ratio (Round your answer to 2 decimal places.) Calculate the debt-toasts ratio at December 31 Debt to Assets Ratio Does the company rely more or less) on dobt financing at the end of the year than at the beginning of the year More less