Exercise 1-13A (Static) Interpreting information shown in a balance sheet LO 1-5, 1-6 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 balonces with a minus sign.) 01.01.20 eBook JONES ENTERPRISES Equation Accounting Equation Land Creditors Cash Stockholders Equity Hint Bals 0 + $ 0 = $ ol $ 0 References 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 (le, 0 234 should be entered as 23.4).) Percentage of c. As of December 31, Year 1, Jones's stockholders' equity represents what percentage of total assets? (Round your answer to decimal place (i.e., 0.234 should be entered os 23.4).) Percentage of total assets % d. What is the maximum cash dividend Jones can pay on December 31, Year 1? Maximum cash dividend payablo 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 O No