Nicole has been financing Nicoles 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.

1. NGS issues 1,200 preferred shares for $11 a share.
2. NGS repurchases 1,200 common shares for $10 a share.
3. On November 12, the board of directors declares a $0.50 cash dividend on each outstanding preferred share.
4. The dividend is paid December 20.

3. Show the overall effect of each transaction on the assets, liabilities, and shareholders equity of the company. (Use + for increase, for decrease, and NE for no effect.)

Transcribed image text: Transaction Balance Sheet Liabilities Assets Stockholders' Equity a. b. C. d