Heckler Machinery, reported the following account balances on January 1. The company entered into the following transactions during the yeat. January 15 Issued 10,000 shares of $1 par common stock for $60,000 eanh. January 31 collected $3,000 trom euntomers on account, Fobruary 15 heacquired 3,100 nhares of 51 par conmon ntoek into treabury for $34,100 canh. March 15 Reinsued 2,100 hares of treanury stock for $25,100 cash. Aaguet is Reisnued 600 shares of treasury stoek for $4,600 cash. 3eptenber 15 Declared (but did not yet pay) a $1 cash dividend on each outatanding whare of oominon stook. October. I Issused 100,10 -year, $1,060 bonds, at a quoted bond price of 101. October. 3 Krotn off a $1,500 balance due trom a cuntomer who went bankrupt. Decenber 29 Recorded $240,000 of torvice revenue, all of which was collected in eash. Decenber 30raid$210,000canh for thin year'n wages through Decenber 31. (Ignore payro11 taxes and payroll deductiona-1 Decenber 31 caleulated $10,000 of depreeiation for the year to be reoorded. (Ignore acerual adjustmonta for interee General Journal tab - Phepare 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. Trial Balance tab - The option you choose will be the values used to populate the balance sheet tabs. Balance Sheet tab - Prepare the noncurrent liabilities and stockholders' equity sections of the balance sheet at December 31 . At the end of the year, the adjusted net income was $20,000. General Journal tab - Prepare a closing journal entry for the income statement accounts, assuming the events on December 29-31 were the only transactions to affect income statement accounts. General Journal tab - After preparing the financial statements, record the closing entry for Dividends. Impact on Debt to Assets Ratio tab - Calculate the Debt to Assets Ratio and analyze the Impact of the Debt to Assets Ratio. not round intermediate calculations. If no entry is required for a transaction, field.) 1 Issued 10,000 shares of $1 par common stock for $60,000 cash. Record the transaction. 2 Collected $3,000 from customers on account. Record the transaction. 3 Reacquired 3,100 shares of $1 par common stock into treasury for $34,100 cash. Record the transaction. 4 Reissued 2,100 shares of treasury stock for $25,100 cash. Record the transaction. 5 Reissued 600 shares of treasury stock for $4,600 cash. Record the transaction. Note : = journal entry has been entered 6 Declared (but did not yet pay) a $1 cash dividend on each outstanding share of common stock. Record the transaction. 7 Issued 100, 10 -year, $1,060 bonds, at a quoted bond price of 101 . Record the transaction. 8 Wrote off a $1,500 balance due from a customer who went bankrupt. Record the transaction. 9 Recorded $240,000 of service revenue, all of which was collected in cash. Record the transaction. 10 Paid $210,000 cash for this year's wages through December 31. Ignore payroll taxes and payroll deductions. Record the transaction. Note : journal entry has been entered not round intermediate calculations. If no entry is required for a transaction field.) 10 Paid $210,000 cash for this year's wages through December 31. Ignore payroll taxes and payroll deductions. Record the transaction. 11 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income taxes.) Record the transaction. 12 Prepare a closing journal entry for the income statement accounts, assuming the events on December 29-31 were the only transactions to affect income statement accounts. Record the transaction. 13 Prepare the closing entry for Dividends. Record the transaction. General Ledger Account The option you choose will be the values used to populate the balance sheet tabs, HECKLER MACHINERY Classified Balance Sheet Calculate the Debt to Assets Ratio and analyze the impact of the Debt to Assets Ratio. (Round your answer to 2 de places.)