Required information Problem 10-2A Record equity trensectlons and Indlcete the effect on the belance sheet equetion (LO10-2, 103,104,105) [The following information applles to the questions displayed below.] Donnle Hilfiger has two classes of stock authorlzed: \$1 par preferred and $0.01 par value common. As of the beginning of 2021,300 shares of preferred stock and 4,000 shares of common stock have been issued. The following transactlons affect stockholders" equity during 2021 : March 1 Issue 1,190 shares of connon stock for $42 per share. May 15 Purchase 480 shares of treasury stock for $35 per share. July 10 Resel1 209 shares of treasury stock purchased on May 15 for $40 per share. october 15 Issue 200 shares of preferred stock for \$45 per share. December 1 Declare a cash dividend on both common and preferred stock of $9.5 per share to all stockholders of record on Decenber 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividends declared on Decenber 1. Donnle Hilfiger has the following beginning balances in its stockholders" equity accounts on January 1, 2021: Preferred Stock, \$300; Common Stock, \$40; Additlonal Pald-In Capital, $76,000; and Retained Earnings, $30,500. Net income for the year ended December 31,2021 , is $10,800. Problem 10-2A Part 1 Required: 1. Record each of these transactlons. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)