Check my work 12 Required information [The following information applies to the questions displayed below.] Part 1 of 2 Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 350 shares of preferred stock and 4,500 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: 5.88 points eBook July March 1 Issue 1,600 shares of common stock for $47 per share. May 15 Purchase 450 shares of treasury stock for $40 per share. 10 Resell 250 shares of treasury stock purchased on May 15 for $45 per share. October 15 Issue 250 shares of preferred stock for $50 per share. December 1 Declare a cash dividend on both common and preferred stock of $1.00 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividends declared on December 1. Print References Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, $350; Common Stock, $45; Additional Paid-in Capital, $78,500; and Retained Earnings, $31,500. Net income for the year ended December 31, 2021, is $11,800. Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) wewicka 12 Required information 1 March 01, 2021 75,200 Part 1 of 2 Cash Common Stock Additional Paid-in Capital 16 75,184 2 .88 oints May 15, 2021 18,000 Treasury Stock Cash 18,000 eBook 3 July 10, 2021 Cash 11,250 Print Treasury Stock Additional Paid-in Capital 10,000 1,250 References 4 12,500 October 15, 2021 Cash Preferred Stock 250 12,250 Additional Paid-in Capital 5 December 01, 2021 Dividends 6,500 Dividends Payable 6,500 6 December 15, 2021 No Transaction Recorded 7 December 31, 2021 Dividends Payable 6,500