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 1,900 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024 : March 1 Issue 1,900 additional shares of common stock for $16 per share. April 1 Issue 150 additional shares of preferred stock for $29 per share. June 1 Declare a cash dividend on both common and preferred stock of $0.55 per share to all stockholders of record on June 15. June 30 Pay the cash dividends declared on June 1. August 1 Purchase 250 shares of common treasury stock for $13 per share. October 1 Reissue 150 shares of treasury stock purchased on August 1 for $15 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$1,500; Common Stock, \$1,900; Additional Paid-in Capital, \$18,400; and Retained Earnings, \$10,400. Net income for the year ended December 31,2024 , is $7,100. Journal entry worksheet Record the issuance of 1,900 additional shares of common stock for $16 per share. Note: Enter debits before credits. Journal entry worksheet Record the issuance of 150 additional shares of preferred stock for $29 per share. Note: Enter debits before credits. Journal entry worksheet 1 6 Record the declaration of cash dividend on both common and preferred stock of $0.55 per share to all stockholders of record on June 15 . Note: Enter debits before credits. Journal entry worksheet Record the payment of the dividends declared on June 1. Note: Enter debits before credits. Journal entry worksheet Record the purchase of 250 shares of common treasury stock for $13 per share. Note: Enter debits before credits. Journal entry worksheet Record the purchase of 250 shares of common treasury stock for $13 per share. Note: Enter debits before credits. Journal entry worksheet Record the resale of 150 shares of treasury stock purchased on August 1 for $15 per share. Note: Enter debits before credits