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I will like your answer thanks (#6) Required information [The following information applies to the questions disployed below] Nautical has two classes of stock authorized:
I will like your answer thanks (#6)
Required information [The following information applies to the questions disployed 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 1,300 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 1,300 additional shares of comen stock for $13 per share. April 1 Issue 150 additional shares of preferred stock for $23 per share. June 1 Dectare a cash dividend on both comon and preferred stock of $0.40 per share to atl stockholders of record on June 15 . June 30 Pay the cash dividends declared on June 1. August 1 Purchase 250 shares of common treasury stock for $10 per share. October 1 Reissue 150 shares of treasury stock purchased on August 1 for $12 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, $1,500; Common Stock, \$1,300; Additional Paid-in Capital, \$17,800; and Retained Earnings, \$9.800. Net income for the year ended December 31,2024 , is $6,800. 2. Select whether each of the following transactions increases ( +) or decreases ( - ) total assets, total liabilities, and total stockholders' equity. (If none of the categories apply for a particular item, leave the cell blank.) Step by Step Solution
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