Nicole has been financing Nicole's Getaway Spa (NGS) using equity financing Currently, NGS has authorized 100,000 $0.34 preferred shares and 200,000 common shares. Outstanding shares include 54,000 preferred shares and 44,000 common shares. Recently the following transactions have taken place. a NGS repurchased and cancelled 1000 common shares for $10.40 a share. 6. NGS issued 1,000 preferred shares for $12.40 a share. c. On November 12, the board of directors declared a cash dividend on each outstanding preferred share. d. The dividend was 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 Journal entry worksheet 1 2 34 NGS repurchased and cancelled 1,000 common shares for $10.40 a share. Note Enter debits before credits Event General Journal Debit Credit Record entry Clear entry View general Journal View transaction list Journal entry worksheet