Please work on Part 2. With the information provided

Required information Problem 10-2A 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 2021, 450 shares of preferred stock and 5,500 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: 1 March Issue 2,600 shares of common stock for $57 per share. May 15 Purchase 550 shares of treasury stock for $50 per share. July 10 Resell 350 shares of treasury stock purchased on May 15 for $55 per share. October 15 Issue 350 shares of preferred stock for $60 per share. December 1 Declare a cash dividend on both common and preferred stock of $2.00 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 Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, $450; Common Stock, $55; Additional Paid-in Capital, $83,500; and Retained Earnings, $33,500. Net income for the year ended December 31, 2021, is $13,800. No Date General Journal Debit Credit 1 March 01, 2021 Cash 148,200 Common Stock 26 Additional Paid-in Capital 148, 174 2 May 15, 2021 27,500 Treasury Stock Cash 27,500 3 July 10, 2021 Cash 19,250 17,500 Treasury Stock Additional Paid-in Capital 1,750 4 October 15, 2021 Cash 21,000 Preferred Stock 350 Additional Paid-in Capital 20,650 5 December 01, 2021 Dividends 17,400 Dividends Payable 17,400 7 December 31, 2021 Dividends Payable 17,400 Cash 17,400 2. Select whether each of the following transactions increases ( + ) or decreases ( - ) total assets, total liabilities, and total stockholders' equity. (If none of the categories apply for a particular item, leave the cell blank.) Transaction Total Assets Total Liabilities Total Stockholders' Equity Issue common stock Purchase treasury stock Resell treasury stock Issue preferred stock Declare cash dividends Pay cash dividends Required information Problem 10-2A 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 2021, 450 shares of preferred stock and 5,500 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: 1 March Issue 2,600 shares of common stock for $57 per share. May 15 Purchase 550 shares of treasury stock for $50 per share. July 10 Resell 350 shares of treasury stock purchased on May 15 for $55 per share. October 15 Issue 350 shares of preferred stock for $60 per share. December 1 Declare a cash dividend on both common and preferred stock of $2.00 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 Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, $450; Common Stock, $55; Additional Paid-in Capital, $83,500; and Retained Earnings, $33,500. Net income for the year ended December 31, 2021, is $13,800. No Date General Journal Debit Credit 1 March 01, 2021 Cash 148,200 Common Stock 26 Additional Paid-in Capital 148, 174 2 May 15, 2021 27,500 Treasury Stock Cash 27,500 3 July 10, 2021 Cash 19,250 17,500 Treasury Stock Additional Paid-in Capital 1,750 4 October 15, 2021 Cash 21,000 Preferred Stock 350 Additional Paid-in Capital 20,650 5 December 01, 2021 Dividends 17,400 Dividends Payable 17,400 7 December 31, 2021 Dividends Payable 17,400 Cash 17,400 2. Select whether each of the following transactions increases ( + ) or decreases ( - ) total assets, total liabilities, and total stockholders' equity. (If none of the categories apply for a particular item, leave the cell blank.) Transaction Total Assets Total Liabilities Total Stockholders' Equity Issue common stock Purchase treasury stock Resell treasury stock Issue preferred stock Declare cash dividends Pay cash dividends