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 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. 150 shares of preferred stock and 1,900 shares of common stock have been issued. The following transactions affect stockholders equity during 2024 : March 1 Issue 1,900 additional shaces of common stock for $16 per share. April 1 Issue 250 additional shares of preferred stock for $29 per share. June 1 Declare a cash dividend on both comnon and peeferred stock of so.55 per share to all stockholders of record. on June 15 , June 30 Pay the cash dividends declared on June 1. August 1 Purchase 250 shares of conmon treasury stock for $13 per share. october 1 Reissue 150 shares of treasury stock purchased on August 1 for $15 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2024. Preferred Stock. \$1,500: Common Stock, \$1,900, Additional Paid-in Capital, \$18,400; and Retained Earnings, \$10,400. Net income for the year ended December 31.2024, is $7,100. Problem 10-2B (Algo) Part 1 Record the issuance of 150 additional shares of preferred stock for $29 per share. Note: Enter debits before credits. Record the declaration of cash dividend on both common and preferred stock of $0.55 per share to all stockholders of record on June 15 . Journal entry worksheet (1) 2 6 Record the payment of the dividends declared on June 1. Journal entry worksheet Record the purchase of 250 shares of common treasury stock for $13 per. share. Journal entry worksheet 1 2 3 Record the resale of 150 shares of treasury stock purchased on August 1 for $15 per share. Note: Enter debits before credits