10-8

Required information Problem 10-2A (Algo) Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4, 10-5) [The following information applies to the questions displayed below] Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024,390 shares of preferred stock and 4,900 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024 : Narch 1 Iseue 2,000 shares of common eteck for 551 per ahare. May 15 Purchase 490 shares of treasury Beck for $44 per share. valy 10 Resel1 290 shares of treasury atock purchased on May 15 for 449 per share. Gctober 15 Isete 290 bhares of preferred bock for 554 per share. of record on December. 15. (Hint bividends are not paid on treasury stock.) December 31 Pay the eash dividendm declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$390; Common Stock, \$49; Additional Paid-in Capital, \$80,500; and Retained Earnings, \$32,300. Net income for the year ended December 31,2024 , is $12,600. Problem 10-2A (Algo) Part 2 - Select whether each of the following transactions increases (+) or decreases ( -) total assets, total liabilities, and total stockholders' quity. (If none of the categories apply for a particular item, leave the cell blank.)