Jones Enterprises was started on January 1, Year 1, when it acquired $6,000 cash from creditors and $10,000 from owners. The company immediately purchased land that cost $12,000. The land purchase was the only transaction occurring during Year 1. Required a. Record the events under an accounting equation. (Enter any decreases to account balances with a minus sign.) Answer is not complete. JONES ENTERPRISES Equation Accounting Equation Land Creditors Stockholders' Equity $ 6,000 $ 10,000 12,000 Cash $ 16,000 (12,000) + + Bal $ 4,000 $ 12,000 $ 6,000 + 10,000 Return to question b. As of December 31, Year 1, Jones's obligations to creditors represent what percentage of total assets? (Round your answer to 1 decimal place (i.e., 0.234 should be entered as 23.4).) Answer is complete and correct. Percentage of total assets 37.5 % c. As of December 31, Year 1, Jones's stockholders' equity represents what percentage of total assets? (Round your answer to 1 decimal place (i.e., 0.234 should be entered as 23.4).) Answer is complete and correct. Percentage of total assets 62.5 d. What is the maximum cash dividend Jones can pay on December 31, Year 1? Answer is complete but not entirely correct. Maximum cash dividend payable $ 4,000 e. Assume the debt is due December 31, Year 1. Given that Jones has $10,000 in stockholders' equity, can the company repay the creditors at this point? Yes No