Debit $ 5,000 Credit Accounts Receivable Accumulated Depreciation Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings Cash Common Stock, 1,000 shares of $1 par Notes Payable (long-term) Retained Earnings Treasury Stock TOTALS % 30,000 120,000 2,000 277,000 17,500 10,000 17,500 120,000 $299,500 $299,500 The company entered into the following transactions during the year lan 15 Tssued 20,000 shares of $1 par common stock for $80,000 cash an 31 Collected $3,000 from customers on account. Feb. 15 Reacquired 3,300 shares of $1 par common stock into treasury for $36,300 cash Mar 15 Reissued 2,300 shares of treasury stock for $27,300 cash Aug. 15 Reissued 60 shares of treasury stock for $4,600 cash Sept. 15 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock Oct. 1 Issued 100, 10-year, $1,010 bonds, at a quoted bond price of 101 Oct 3 Wrote off a $2,000 balance due from a customer who went bankrupt Dec 29 Recorded $260,000 of service revenue, all of which was collected in cash Dec. 30 Paid $230,000 cash for this year's wages through December 31. Igrnore payroll taxes and payroll deductions Dec. 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income taxes.) General Journal General Ledger Balance Sheet Debt to Assets Requirement Trial Balance Ratio Use the dropdowns to select the accounts properly included on the classified balance sheet. However, you will need to enter the amount of Retained earnings. At the end of the year, the adjusted net income was $20,000 AMERICAN LASER, INC Classified Balance Sheet At December 31 Calculate the Debt to Assets Ratio and analyze the impact of the Debt to Assets Ratio Calculate the debt-to-assets ratio at January 1 and December 31. (Round your answer to 2 decimal places.) Debt to Assets Ratio Does the company rely more (or less) on debt financing at the end of the year than at the beginning of the year? More Less K Balance Sheet Debt to Assets Ratio