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Problem 10-5A Understand stockholders' equity and the statement of stockholders' equity (L010-7) The following information applies to the questions displayed below Donnie Hilfger has two classes of stock authorized $1 par preferred and $0.01 par value common. As of the beginning of 2018, 300 shares of preferred stock and 3,100 shares of common stock have been issued. The following transactions affect stockholders equity during 2018 March 1 Issue 1,100 shares of common stock for $33 per share May 15 Purchase 400 shares of treasury stock for $26 per share July 10 Reissue 200 shares of treasury stock purchased on May 15 for $31 per share. October 15 Issue 200 shares of preferred stock for $36 per share December 1 Declare a cash dividend on both common and preferred stock of $0.80 per share to all stockholders of record on December 15. (Hint Dividends are not paid on treasury stock) December 31 Pay the cash dividends declared on December 1 Donnie Hiltfiger has the following beginning balances in its stockholders' equity accounts on Janusry 1.2018 Preferred Stock, $300, Common Stock, $31, Addtional Paid-in Capital $67,000 and Retained Earnings, $26000 Net income for the year ended December 31, 2018, is $9.900 Toking into consideration the beginning balances on January 1, 2018 and all the transactions during 2018, respond to the following for Donnie Hilfiger