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Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2024 , 125 shares of
Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2024 , 125 shares of preferred stock and 2,100 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024 : March 1 Issue 2,100 additional shares of common stock for $16 per share. April 1 Issue 175 additional shares of preferred stock for $31 per share. June 1 Declare a cash dividend on both common and preferred stock of $0.55 per share to all stockholders of record on June 15. June 30 Pay the cash dividends declared on June 1. August 1 Purchase 175 shares of common treasury stock for $13 per share. October 1 Resell 125 shares of treasury stock purchased on August 1 for $15 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, $1,250; Common Stock, $2,100; Additional Paid-in Capital, $18,600; and Retained Earnings, $10,600. Net income for the year ended December 31,2024 , is $7,200. Taking into consideration the beginning balances on January 1, 2024 and all the transactions during 2024, respond to the following for Nautical: Prepare the statement of stockholders' equity for the year ended December 31, 2024. (Amounts to be deducted should be dicated by a minus sign.)
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