Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2021, 150 shares of preferred stock and 2,800 shares of common stock have been issued. The following transactions affect stockholders equity during 2021:

March		1		Issue 2,800 additional shares of common stock for $12 per share.
April		1		Issue 150 additional shares of preferred stock for $38 per share.
June		1		Declare a cash dividend on both common and preferred stock of $0.35 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 common treasury stock for $9 per share.
October		1		Reissue 150 shares of treasury stock purchased on August 1 for $11 per share.

Nautical has the following beginning balances in its stockholders equity accounts on January 1, 2021: Preferred Stock, $1,500; Common Stock, $2,800; Additional Paid-in Capital, $19,300; and Retained Earnings, $11,300. Net income for the year ended December 31, 2021, is $7,550.

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.)

Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2021, 100 shares of preferred stock and 1,800 shares of common stock have been issued. The following transactions affect stockholders equity during 2021:

March	1		Issue 1,800 additional shares of common stock for $17 per share.
April	1		Issue 200 additional shares of preferred stock for $28 per share.
June	1		Declare a cash dividend on both common and preferred stock of $0.60 per share to all stockholders of record on June 15.
June	30		Pay the cash dividends declared on June 1.
August	1		Purchase 200 shares of common treasury stock for $14 per share.
October	1		Resell 100 shares of treasury stock purchased on August 1 for $16 per share.

Nautical has the following beginning balances in its stockholders equity accounts on January 1, 2021: Preferred Stock, $1,000; Common Stock, $1,800; Additional Paid-in Capital, $18,300; and Retained Earnings, $10,300. Net income for the year ended December 31, 2021, is $7,050.

Taking into consideration the beginning balances on January 1, 2021 and all the transactions during 2021, respond to the following for Nautical:

Required:

1. Prepare the stockholders equity section of the balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)