Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2018, 125 shares of preferred stock and 3,00 common stock have been Issued. The following transactions affect stockholders' equity during 2018: March 1 Issue 3,000 additional shares of common stock for $10 per share April 1 Issue 175 additlonal shares of preferred stock for $40 per share June 1 Declare a cash dividend on both common and preferred stock of $0.25 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 $7 per share October 1 Relssue 125 shares of treasury stock purchased on August 1 for $9 per share Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2018: Preferred Stock, $1.250; Common Stock, $3,000; Additic Capltal, $19,500; and Retalned Earnings, $11,500. Net Income for the year ended December 31, 2018, IS $7,650 value Required infor 10.00 points Required: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 6 Record the payment of cash dividends declared Note: Enter debits before credits Date General Journal Debit Credit June 30, 2018 1,500 ividends payable ividends payable 75 Cash 1,575 Record entry Clear entry View general journal 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.) Total Total Total Stockholders Transaction Issue common stock Issue preferred stock Declare cash dividends Pay cash dividends Purchase treasury stock Reissue treasury stock