Required intormation

Problem $10-5$B $($Static$)$ Understand stockholders' equity and the statement of stockholders' equity $($LO$107)$

$[$The following information applies to the questions displayed below.$]$

Nautical has two classes of stock authorized: $\backslash$$$10$ par preferred, and $\backslash$$$1$ par value common. As of the beginning of $2024,125$ shares of preferred stock and $3,000$ shares of common stock have been issued. The following transactions affect stockholders' equity during $2024$:

March $1$ Issue $3,000$ additional shares of common stock for $\backslash (\backslash$$ $10\backslash )$ per share.

April $1$ Issue $175$ additional shares of preferred stock for $\backslash (\backslash$$ $40\backslash )$ per share.

June $1$ Declare a cash dividend on both common and preferred stock of $\backslash (\backslash$$ $0\mathrm{.}25\backslash )$ per share to all stockholders of record on June $15.$

June $30$ Pay the cash dividends declared on June $1.$

August $1$ Purchase $175$ shares of common treasury stock for $\backslash (\backslash$$ $7\backslash )$ per share.

October $1$ Resell $125$ shares of treasury stock purchased on August $1$ for $\backslash (\backslash$$ $9\backslash )$ per share.

Nautical has the following beginning balances in its stockholders' equity accounts on January $1,2024$: Preferred Stock, $\backslash (\backslash$$ $1,250\backslash )$; Common Stock, $\backslash (\backslash$$ $3,000\backslash )$; Additional Paid$-$in Capital, $\backslash (\backslash$$ $19,500\backslash )$; and Retained Earnings, $\backslash (\backslash$$ $11,500\backslash ).$ Net income for the year ended December $31,2024,$ is $\backslash (\backslash$$ $7,650\backslash ).$

Taking into consideration the beginning balances on January $1,2024$ and all the transactions during $2024,$ respond to the following for Nautical:

blem $10-5$B $($Static$)$ Part $1$

uired:

epare the stockholders' equity section of the balance sheet as of December $31,2024.($Amounts to be deducted should be cated by a minus sign.$)$

NAUTICAL

Balance Sheet

$($Stockholders$\text{'}$ Equity Section$)$

December $31,2024$

ckholders' equity:

ferred stock

mmon stock