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, 330 shares of preferred stock and 4,300 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 1,400 shares of common stock for $45 per share. May 15 Purchase 430 shares of treasury stock for $38 per share. July 10 Resel1 230 shares of treasury stock purchased on May 15 for $43 per share. October 15 Isaue 230 shares of preterred stock for $48 per share. Decenber 1 Declare a cash dividend on both comon and preferred atock of $0.80 per share to all stockholders of record on December Decenber 31 Pay the cash dividends declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$330; Common Stock, \$43; Additional Paid-in Capital, \$77,500; and Retained Earnings, $31,100. Net income for the year ended December 31, 2024, is $11,400. Journal entry workshe 234 Peocod the issuance d1,409 shares of comren stokk for 545 per whare. Journal entry worksheet 12 Pecond the nesale of 230 shares of treasury stock purchased an Mor 15 for \$4\$ per share. Focord the purchase of 430 shares of treasury stack for $38 per share. Journal entry worksheet Record the issuance of 230 shares of preferned stock for s48 per share. wobe: Enter debls before cretiks. Record the entry os December 15, the cate of record. Record the parment of the cash dividends deciared on December 1. Nate: Eniber detr ta before cradica