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Sweet Sixteen has two classes of stock authorized: \$10 par preferred, and \$1 par value common. As of the beginning of 2024,125 shares of preferred stock and 2,100 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 2,100 additional shares of common stock for $16 per share. April 1 Issue 175 additional shares of preferred stock for $31 per share. June 1 Declare a cash dividend on both common and preferred stock of $0.55 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 $13 per share. October 1 Reissue 125 shares of treasury stock purchased on August 1 for $15 per share. Sweet Sixteen has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$1,250; Common Stock, \$2,100; Additional Paid-in Capital, \$18,600; and Retained Earnings, \$10,600. Net income for the year ended December 31,2024 , is $7,200. Required: 1. Record each of these transactions. 2. Select whether each of the following transactions increases (+ ) or decreases ( - ) total assets, total liabilities, and total stockholders' equity. View transaction list View journal entry worksheet Required 1 Required 2> Sweet Sixteen has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2024,125 shares of preferred stock and 2,100 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 2,100 additional shares of common stock for \$16 per share. April 1 Issue 175 additional shares of preferred stock for \$31 per share. June 1 Declare a cash dividend on both common and preferred stock of $0.55 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 \$13 per share. October 1 Reissue 125 shares of treasury stock purchased on August 1 for \$15 per share. Sweet Sixteen has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$1,250; Common Stock, \$2,100; Additional Paid-in Capital, \$18,600; and Retained Earnings, \$10,600. Net income for the year ended December 31,2024 , is $7,200. Required: 1. Record each of these transactions. 2. Select whether each of the following transactions increases (+) or decreases ( - ) total assets, total liabilities, and total stockholders' equity. Complete this question by entering your answers in the tabs below. 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.)