Problem 10-2B (Algo) 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] Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2024, 125 shares of preferred stock and 2,400 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024 : March 1 Issue 2,400 additional shares of cormon stoek for $19 per share. apri1 I Issue 175 additional mbares of preferred stock for $34 per ohare. June 1 Declare a cash dividend on both common and preferred stock of $0,70 per nhare to all atockbolders of record on June 15 . June 30 Pay the cath dividends declared on June 1. Auguat 1 purehase 175 shares of eecmon treasury stoek for $16 per share. october 1 heissue 125 shares of treanury stoek purehased on Augubt 2 for s18 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$1,250; Common Stock, \$2,400; Additional Paid-in Capital, \$18,900; and Retained Earnings, \$10,900. Net income for the year ended December 31,2024 , is $7,350. Problem 10-2B (Algo) Part 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.)