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Required information [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 2024 . 150 shares of preferred stock and 1,600 shares of common stock have been issued. The following transactions affect stockholder' equity during 2024 : March 1 Issue 1,600 additional shares of common stock for $19 per share. April 1 Issue 150 additional shares of preferred stock for $26 per share. June 1 Declare a cash dividend on both conmon and preferred stock of $0.70 per share to all stockholders June 30 of record on June 15. August 1 Purchase 250 shares of comenon treasury stock for $16 per share. october 1 Resell 150 shares of treasury stock purchased on August 1 for $18 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, $1,500; Common Stock, \$1,600; Additional Paid-in Capital, \$18,100; and Retained Earnings, \$10,100. Net income for the year ended December 31,2024 , is $6,950. Taking into consideration the beginning balances on January 1,2024 and all the transactions during 2024 , respond to the following for Nautical: Required: 1. Prepare the stockholders' equity section of the balance sheet as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) Required: 1. Prepare the stockholders' equity section of the balance sheet as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) 2. Prepare the statement of stockholders' equity for the year ended December 31,2024 . (Amounts to be deducted should be indicated by a minus sign.)