Required information 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 applles 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 . 100 shares of preferred stock and 1,500 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 1,500 additional shares of connon stock for $20 per share. April 1 Issue 200 additional shares of preferred stock for $25 per share. June 2 bectare a cash dividend on both comnon and preferred stock of $0.75 per share to atl stockholders June 36 Pay the cast dividends dectared on June 1. August 1 Purchase 200 shares of connon treasury stock for $17 per share. October. 1 . Reissue 100 shores of treasury stock purchased on August 1 for $19 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1,2024: Preferred Stock. $1,000; Common Stock, \$1,500; Additional Pald-in Capital, \$18,000; and Retained Earnings, $10,000 Net income for the year ended December 31,2024 , is $6,900 Problem 10-2B (Algo) Part 1 Required: 1. Record each of these transactions. (If no entry is required for a particular transection/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 5.6 Record the issuance of 200 additional shares of preferred stock for $25 per share. Note: Enter debits befare credits: Journal entry worksheet (1) Record the declaration of cash dividend on both common and preferred stock of $0.75 per share to all stockholders of record on June 15 . Notel Enter debits befice credits. Journal entry worksheet (1) (2) 6 Record the payment of the dividends declared on June 1. Note: Enter debits before credits. Journal entry worksheet (1) 2. 3 4 6 Record the purchase of 200 shares of common treasury stock for $17 per share. Note: Emter debits before credits. Journal entry worksheet (1) (2) 345 Record the resale of 100 shares of treasury stock purchased on August 1 for $19 per share. Note: Enter debits before credits Journal entry worksheet Record the issuance of 1,500 additional shares of common stock for $20 per share. Note: Enter debits before credits