Cedric Productions, reported the following account balances on January 1. The company entered into the following transactions during the year. January 15 Issued 8,060 shares of $1 par conmon stock for $56,000 cash. January 31 Collected $3,00 from customers on account. February 15 Reacquired 3,060 shares of $1 par connon stock into treasury for $33,660 cash. March 15 Reissued 2,060 shares of treasury stock for $24,660 cash. August 15 Reissued 6 , se 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 conmon stock. october 1 Issued 100,10 -year, 51 , 04e 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 $236,600 of service revenue, all of which was collected in cash. December 30 Paid $206,600 cash for this year's wages through Decenber 31 . (Ignore payroll taxes and payroll December 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for int and income taxes.) Answer is not complete. Prepare the joumal entries to record each transaction. Review the accounts as shown in the General Ledger and Trial Balance tabs. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) se the dropdowns to select the accounts properly included on the classified balance sheet. However, you will need to ;, the adjusted net income was $20,000. Cedric Productions, reported the following account balances on January 1. The company entered into the following transactions during the year. January 15 Issued 8,060 shares of $1 par common stock for $56, 00f cash. January 31 Collected $3,000 fron custoners on account. February 15 Reacquired 3,060 shares of $1 par common stock into treasury for $33,660 cash. March 15 Reissued 2,060 shares of treasury stock for $24,660 cash. August 15 Reissued 600 shares of treasury stock for $4,600 cash. Septenber 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. october 1 Issued 100, 10-year, $1,040 bonds, at a quoted bond price of 101. 0ctober 3 Wrote off a $1,508 balance due from a customer who went bankrupt. Decenber 29 Recorded $236,000 of service revenue, all of which was collected in cash. Decenber 30 Paid $206,000 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 intere and income taxes.) Answer is not complete. Calculate the Debt to Assets Ratio and analyze the impact of the Debt to Assets Ratio. (Round your answer to 2 decimal places.)