Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 490 shares of preferred stock and 5,900 shares of common stock have been issued. The following transactions affect stockholders equity during 2021:

Please answer BOTH as the first part is part 1 and the second is part 2! Thank you!

Required information (The following information applies to the questions displayed below.) Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 490 shares of preferred stock and 5,900 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: May March 1 Issue 3,000 shares of common stock for $61 per share. 15 Purchase 590 shares of treasury stock for $54 per share. July 10 Resell 390 shares of treasury stock purchased on May 15 for $59 per share. October 15 Issue 390 shares of preferred stock for $64 per share. December 1 Declare a cash dividend on both common and preferred stock of $2.40 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. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, $490; Common Stock, $59; Additional Paid-in Capital, $85,500; and Retained Earnings, $34,300. Net income for the year ended December 31, 2021, is $14,600. quired: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Require first account field.) Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Jou the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Cre 2 May 15, 2021 No Transaction Recorded 3 July 10, 2021 No Transaction Recorded 4 October 15, 2021 No Transaction Recorded 5 December 01, 2021 No Transaction Recorded 2. Select whether each of the following transactions increases ( + ) or decreases ( - ) total assets, total liabilities, and total equity. (If none of the categories apply for a particular item, leave the cell blank.) Transaction Total Assets Total Liabilities Total Stockholders' Equity Issue common stock Purchase treasury stock Resell treasury stock Issue preferred stock Declare cash dividends Pay cash dividends