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, 460 shares of preferred stock and 5,600 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021 March 1 Issue 2,700 shares of common stock for $58 per share. May 15 Purchase 560 shares of treasury stock for $51 per share. July 10 Resell 360 shares of treasury stock purchased on May 15 for $56 per share. October 15 Issue 360 shares of preferred stock for $61 per share. December 1 Declare a cash dividend on both common and preferred stock of $2.10 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 $460. Common Stock. $56, Additional Paid in Capital, $84,000, and Retained Earnings $33,700. Net income for the year ended December 31, 2021, is $14,000. ces Required: 1. 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.) View transaction list Journal entry worksheet 1 2 3 4. 5 6 7 > Record the issuance of 2,700 shares of common stock for $58 per share. Note: Enter debits before credits Date March 01, 2021 General Journal Debit Credit Record entry Clear entry View general Journal - 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 e common stock Purchase treasury stock Rewell treasury stock I preferred stock Dedare cash dividends Pay cash dividends