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Sweet Sixteen has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2024,150 shares of preferred stock and 2,500 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024 : March 1 Issue 2,500 additional shares of common stock for $20 per share. April 1 Issue 150 additional shares of preferred stock for $35 per share. June 1 Declare a cash dividend on both conmon and preferred stock of $0.75 per share to all stockholders of record on June 15 . June 30 Pay the cash dividends declared on June 1. August 1 Purchase 250 shares of comnon treasury stock for $17 per share. october 1 Reissue 150 shares of treasury stock purchased on August 1 for $19 per share. Sweet Sixteen has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock. $1,500; Common Stock, \$2,500; Additional Pald-in Capital, \$19,000; and Retained Earnings, \$11,000. Net income for the year ended December 31, 2024; is $7,400. Required: 1. Record each of these transactions. 2. Select whether each of the following transactions increases (+) or decreases () total assets, total liabilities, and total stockholders' equity. Journal entry worksheet 2 6 Record the issuance of 2,500 additional shares of common stock for $20 per share. Note: Enter debits before credits. Journal entry worksheet 6 Record the issuance of 150 additional shares of preferred stock for $35 per share. Note: Enter debits before credits. Journal entry worksheet Record the declaration of cash dividend on both common and preferred stock of $0.75 per share to all stockholders of record on June 15 . Note: Enter debits before credits. Journal entry worksheet 6 Record the payment of the dividends declared on June 1. Note: Enter debits before credits. Journal entry worksheet Record the purchase of 250 shares of common treasury stock for $17 per share. Note: Enter debits before credits. Journal entry worksheet