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Problem 10-5A Understand stockholders' equity and the statement of stockholders' equity (L010-7) The following information applies to the questions displayed below.) Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 200 shares of preferred stock and 2,800 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 1,000 shares of common stock for $30 per share. May 15 Purchase 600 shares of treasury stock for $23 per ahare. July 10 Resell 100 shares of treasury stock purchased on May 15 for $28 per share. October 15 Issue 100 shares of preferred stock for $33 per share. December 1 Declare a cash dividend on both common and preferred stock of $0.85 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividendo declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, $200, Common Stock, $28; Additional Paid-in Capital, $64,000; and Retained Earnings $24.500. Net income for the year ended December 31, 2021. is $9,600. Taking into consideration the beginning balances on January 1, 2021 and all the transactions during 2021, respond to the following for Donnie Hilfiger: Problem 10-5A Part 2 2. Prepare the statement of stockholders' equity for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) DONNIE HILFIGER Statement of Stockholders' Equity + For the Year Ended December 31, 2021 Preferred Additional Common Stock Total Retained Stock Treasury Stock Stockholders Paid-in Capital Earnings Equity $ 200 $ 28 $ 64,000 $ 24,500 $ 88,728 10 29,990 300,001 (13,800) (13,800) 500 2,300 2,800 100 Balanco, January 1 Issue common stock Purchase freasury stock Resell treasury stock Issue proferred stock Declare cash dividends Net income Balance, December 31 (3,362) 9,600 30,738 (3,362) 9,600 $ 383,967 $ 300 5 38 $ 94,490$ $ (11.500)