please please please answer part 1-2

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Required information Problem 10-5B Understand stockholders' equity and the statement of stockholders' equity (LO10-7) The following information applies to the questions displayed below] Noutical has two classes of stock authorized: $10 par preferred, and $1 par value common, As of the beginning of 2021 , 125 shares of preferred stock and 1,100 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021 : March 1 Isrue 1,100 additional shares of conmon stock for s11 per share. Agrdt 1 Issue 175 additional shares of preferred stock for $21 per share. June 1 Declare a cash dividend on both common and preferred stock of $0.30 per share to all stockholders of record on June 15 . June3e Pay the cash dividends declared on June 1. August 1 Purchase 175 shares of common treasury stock for $8 per share. October 1 Resel1 125 shares of treasury stock purchased on August 1 for $10 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, $1,250; Common \$tock, $1,100; Additional Paid in Capital, $17,600; and Retained Earnings, $9,600. Net income for the year ended December 31,2021 , is $6,700. Taking into consideration the beginning balances on January 1,2021 and all the transactions during 2021, respond to the following for Nautical: Required: 1. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) 2. Prepare the statement of stockholders' equity for the year ended December 31,2021 . (Amounts to be deducted should be indicated by a minus sign.)