Exercise 10-6 (Static) Record common stock, preferred stock, and dividend transactions (LO10-2, 10-3, 10-5) Italian Stallion has the following transactions during the year related to stockholders' equity. February 1 Issues 6,000 shares of no-par common stock for $16 per-share, May 15 Issues 700 shares of $10 par value, 12.5% preferred stock for $13 per 5 hare. 0ctober 1 Declares a cash dividend of $1.25 per share to all stockholders of record (both common and preferred) on 0ctober 15. October 15 Date of record. October 31 Pays the cash dividend declared on 0ctober 1. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)