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Required information Problem 10-5B Understand stockholders' equity and the statement of stockholders' equity (LO10-7) [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 . 125 shares of preferred stock and 1,100 shares of common stock have been issued. The following transactions affect stockholder's equity during 2021 : March 1 Issue 1,100 additionsl shares of coanon stock for $11 per share. April 1 Issue 175 additional shares of preferred stock for 521 per share. June 1 Declare a cash dividend on both comson and preferred stock of so.30 per share to all stockholders of record: on June 15 . June 30 Pay the cash dividends declared on June 1. Aucust 1 Purchase 175 shares of comson treasury stock for $8 per share. october 1 Resell 125 shares of treasury stock purchased on August 1 for $10 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Pr werred Stock, \$1,250: Common Stock, \$1,100; Additional Paid-in Copital, \$17,600; and Retained Earning9, $9,600. Net income for the year ended December 31,2021 , is $6,700. Taking into consideration the beginning balences on Jonuary 1, 2021 and all the transections during 2021, respond to the following for Nautical: Problem 10-5B Part 1 Required: 1. Prepare the stockholders equity section of the bolance sheet as of December 31, 2021. (Amounts to be deducted should be indicoted by o minus sign.)