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 1,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 1,000 additional shares of comnon stock for $10 per share. April 1 Issue 150 additional shares of preferred stock for $20 per share. June 1 Declare a cash dividend on both common and preferred stock of $0.25 per share to all stockholders June 30 Pay the cash dividends declared on June 1. August 1 Purchase 250 shares of common treasury stock for $7 per share. october 1 Reissue 150 shares of treasury stock purchased on August 1 for $9 per share. Nautical has the following beginning balances in its stockholders' cquity accounts on January 1, 2024: Preferred Stock, $1,500; Common Stock, \$1,000; Additional Paid-in Capital, \$17,500; and Retained Earnings, \$9,500. Net income for the year ended December 31,2024 , is $6,650. 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 Required" in the first account field.) View transaction list View journal entry worksheet \begin{tabular}{|c|c|c|c|c|c|} \hline & No & Date & General Journal & Debit & Credit \\ \hline \multirow[t]{3}{*}{i} & 1 & March 01, 2024 & Cash & & \\ \hline & & & Common Stock & & \\ \hline & & & Additional Paid-In Capital & & \\ \hline \multirow[t]{3}{*}{1} & 2 & April 01, 2024 & Cash & & \\ \hline & & & Proferred Stock & & \\ \hline & & & Additional Paid-In Capital & & \\ \hline \multirow[t]{2}{*}{1} & 3 & June 01, 2024 & Dividends & & \\ \hline & & & Dividends Payable & & \\ \hline \multirow[t]{2}{*}{1} & 4 & June 30,2024 & Dividends Payable & & \\ \hline & & & Cash & & \\ \hline & 5 & August 01, 2024 & Treasury Stock & & \\ \hline & & & Cash & & \\ \hline \multirow[t]{3}{*}{i} & 6 & October 01,2024 & Cash & & \\ \hline & & & Treasury Stock & & \\ \hline & & & Additional Paid-In Capital & & \\ \hline \end{tabular}