Problem 10-2A (Algo) Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4, 10-5) [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 2024,310 shares of preferred stock and 4,100 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 1,200 shares of common stock for $43 per share. May 15 Purchase 410 shares of treasury stock for $36 per share. July 10 Resell 210 shares of treasury stock purchased on May 15 for $41 per share. Dectober 15 issue 210 shares of preferred stock for $46 per share. Dece-tber 1 Declare a cash dividend on both conmon and preferred stock of $0.60 per share to all December 31 Pay the cash dividends declared on Decenber 1. Donnie Hifiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, $310; Common Stock, $41; Additional Paid-in Capital, $76,500; and Retained Earnings, $30.700. Net income for the year ended December 31,2024 , is $11,000. roblem 10-2A (Algo) Part 1 equired: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in he first account field.) Journal entry worksheet 67 Record the issuance of 1,200 shares of common stock for $43 per share. Note: Enter debits before credits. Record the purchase of 410 shares of treasury stock for $36 per share. Note: Enter debits before credits. Journal entry worksheet Record the resale of 210 shares of treasury stock purchased on May 15 for $41 per share. Note: Enter debits before credits. Journal entry worksheet Record the issuance of 210 shares of preferred stock for $46 per share. Note: Enter debits before credits. Journal entry worksheet