Nicole has been financing Nicole's Getaway Spa (NGS) using equity financing. Currently NGS has authorized 100,000 no- par preferred shares and 200,000 $2 par common shares. Outstanding shares include 54,000 preferred shares and 44,000 common shares. Recently the following transactions have taken place. a. NGS issues 1,200 preferred shares for $11 a share. b. NGS repurchases 1,200 common shares for $10 a share. c. On November 12, the board of directors declares a $0.50 cash dividend on each outstanding preferred share. d. The dividend is paid December 20. Required: 1. Prepare the journal entries needed for each of the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list 1 Record the issuance of 1,200 shares of preferred stock with no par value for a price of $11 per share. 2 Record the purchase of 1,200 previously issued common shares for a price of $10 per share. 3 Record the declaration of a $0.50 cash dividend on the shares of preferred stock outstanding. 4 Record the payment of the cash dividend to the preferred shareholders. Note: journal entry has been entered value for Credit Record entry Clear entry View general journal