Required information Problem 10-2B 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 2021, 125 shares of preferred stock and 2,400 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021 March 1 Issue 2,400 additional shares of common stock for $19 per share. April 1 Tue 175 additional shares of preferred stock for $34 per share. June 1 Declare a cash dividend on both common and preferred stock of $0.70 per Share to all stockholders of record on June 15. June 30 Pay the cash dividende deelared on June 1. August 1Purchase 175 shares of common treasury stok for $16 per share October 1 Reissue 125 shares of treasury stock purchased on August 1 for $10 per share Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock $1.250: Common Stock, $2,400; Additional Paid-in Capital, $18.900, and Retained Earnings, $10.900. Not income for the year ended December 31, 2021, is $7,350 Problem 10-2B 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.) 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.) Answer is not complete. Date Debit Credit March 01, 2021 45.600 General Journal Cash Common Stock Additional Paid in Capital 2,400 43,200 April 01, 2021 5,950 Cash Preferred Stock Additional Paid in Capital 1.750 June 01, 2021 3.600 Dividends Dividends Payable June 30, 2021 Dividends Payable Cash August 01, 2021 Treasury Stock 2,800 Cash