Required information Problem 10-2B 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 2021, 100 shares of preferred stock and 2,300 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021 March 1 Issue 2,300 additional shares of common stock for $18 per share. April 1 Issue 200 additional shares of preferred stock for $33 per share. June 1 Declare a cash dividend on both common and preferred stock of $0.65 per share to all stockholders of record on June 15. June 30 Pay the cash dividends declared on June 1. August 1 Purchase 200 shares of common treasury stock for $15 per share. October 1 Reissue 100 shares of treasury stock purchased on August 1 for $17 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock. $1,000; Common Stock $2,300, Additional Paid-in Capital, $18,800; and Retained Earnings, $10,800. Net income for the year ended December 31, 2021, is $7,300 Debit No Credit General Journal Date March 01, 2021 41,400 Cash Common Stock Additional Paid-In Capital 2,300 39,100 2 6,600 April 01, 2021 2,000 Cash Preferred Stock Additional Paid In Capital 4,600 X 3 June 01, 2021 3,185 Retained Earnings Dividends Payable 3,185 4 June 30, 2021 Cash 3,185 Dividends Payable 3,185 5 3,000 August 01, 2021 Treasury Stock Cash 3,000 6 1.700 October 01, 2021 Cash Treasury Stock Additional Paid-In Capital 1,500 200