2. Select whether each of the following transactions increases (+) or decreases () tot equity. (If none of the categories apply for a particular item, leave the cell blank.) Required information Problem 10-2A (Static) Record equity transactions and indicate the effect on the balance sheet equation (LO102,103,104,105) [The following information applies to the questions displayed below.] Donnie Hiffiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024,300 shares of preferred stock and 4,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024 March 1 Issue 1,100 shares of conmon stock for $42 per share. Kay 15 Purchase 4e0 shares of treasury stock for 535 per share. July 10 Resell 20e shares of treasury stock purchased on May 15 tor 140 per share. October 15 Issue 200 shares of preferred stock for 545 per share. December 1 beclare a cash dividend on both common and preterred stock of se, se per share to att stockholders of record on Deceaber 15. (Hiat: Dividends are not pald on treasury stock.) Decenber 31 Pay the cash dividends declared on Decenber 1 . Donnie Hiltiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$300; Common Stock, \$40; Additional Paid-in Capital, \$76,000; and Retained Earnings, \$30,500. Net income for the year ended December 31,2024 , is $10,800