Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2015, 300 shares of preferred stock and 4,000 shares of common stock have been issued. The following transactions affect stockholders€™ equity during 2015:
March 1 Issue 1,100 shares of common stock for $42 per share.
May 15 Purchase 400 shares of treasury stock for $35 per share.
July 10 Reissue 200 shares of treasury stock purchased on May 15 for $40 per share.
October 15 Issue 200 shares of preferred stock for $45 per share.
December 1 Declare a cash dividend on both common and preferred stock of $0.50 per share to all stockholders of record on December 15.
December 31 Pay the cash dividends declared on December 1.
Donnie Hilfiger has the following beginning balances in its stockholders€™ equity accounts on January 1, 2015: Preferred Stock, $300; Common Stock, $40; Additional Paid-in Capital, $76,000; and Retained Earnings, $30,500. Net income for the year ended December 31, 2015, is $10,800.

Required:
1. Record each of these transactions.
2. Indicate whether each of these transactions would increase (+), decrease (€“), or have no effect (NE) on total assets, total liabilities, and total stockholders€™ equity by completing the followingchart.

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Total Stockholders' Equity Transaction Total Assets Total Liabilities Issue common stock Purchase treasury stock Reissue treasury stock Issue preferred stock Declare cash dividends Pay cash dividends