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 2024,480 shares of preferred stock and 5,800 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 2,900 shares of common stock for $60 per share. May 15 Purchase 580 shares of treasury stock for $53 per share. July 10 Resell 380 shares of treasury stock purchased on May 15 for $58 per share. October 15 Issue 380 shares of preferred stock for $63 per share. December 1 Declare a cash dividend on both common and preferred stock of $2.30 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 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, $480; Common Stock, $58; Additional Paid-in Capital, $85,000; and Retained Earnings, $34,100. Net income for the year ended December 31,2024 , is $14,400. roblem 10-2A (Algo) Part 2 . Select whether each of the following transactions increases (+) or decreases ( - ) total assets, total liabilities, and total stockholders' quity. (If none of the categories apply for a particular item, leave the cell blank.)