Required information Problem 10-2B (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.] Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2024, 150 shares of preferred stock and 2,200 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024; March 1 April 1 June 1 June 30 Issue 2,200 additional shares of common stock for $17 per share. Issue 150 additional shares of preferred stock for $32 per share. Declare a cash dividend on both common and preferred stock of $0.60 per share to all stockholders of record on June 15. Pay the cash dividends declared on June 1. August 1 Purchase 250 shares of common treasury stock for $14 per share. October 1 Reissue 150 shares of treasury stock purchased on August 1 for $16 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, $1,500. Common Stock, $2,200, Additional Paid-in Capital. $18,700; and Retained Earnings, $10,700. Net income for the year ended December 31, 2024, is $7,250. Problem 10-2B (Algo) Part 1 Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Red the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 Record the issuance of 2,200 additional shares of common stock for $17 per share. Note: Enter debits before credits. Date March 01, 2024 General Journal Debit Credit Record entry Clear entry View general journal 13 Journal entry worksheet < 1 3 4 5 6 Record the issuance of 150 additional shares of preferred stock for $32 per share. Note: Enter debits before credits. Date April 01, 2024 General Journali Debit Credit Record entry Clear entry View general journal Prev 9 12 www of 8 www Next Journal entry worksheet 1 2 4 5 6 Record the declaration of cash dividend on both common and preferred stock of $0.60 per share to all stockholders of record on June 15. Note: Enter debits before credits. Date June 01, 2024 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 Record the payment of the dividends declared on June 1. Note: Enter debits before credits Date: June 30, 2024 General Journal Debit Credit Clear entry View general journal Record entry Journal entry worksheet < 1 2 3 4 6 Record the purchase of 250 shares of common treasury stock for $14 per share. Note: Enter debits before credits. Date August 01, 2024 General Journal Debit Credit Clear entry View general journal Record entry Journal entry worksheet < 1 2 3 4 5 6 Record the resale of 150 shares of treasury stock purchased on August 1 for $16 per share. Note: Enter debits before credits Date October 01, 2024 General Journal Debit Credit Record entry Clear entry View general journal Problem 10-2B (Algo) Part 2 2. Select whether each of the following transactions increases (+) or decreases equity. (If none of the categories apply for a particular item, leave the cell blank Transaction Issue common stock Issue preferred stock Declare cash dividends Pay cash dividends Purchase treasury stock Resell treasury stock Total Assets Liabilities Total Total Stockholders' Equity