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 1,400 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 1,480 additional shares of common stock for $14 per share. April 1 Issue 175 additional shares of preferred stock for $24 per share. June 1 Declare a cash dividend on both common and preferred stock of $e.45 per share to all stockholders of record on June 15. June 30 Pay the cash dividends declared on June 1. August 1 Purchase 175 shares of common treasury stock for $11 per share. October 1 Reissue 125 shares of treasury stock purchased on August 1 for $13 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, $1,250, Common Stock, $1,400, Additional Pald-In Capital, $17,900; and Retained Earnings. $9,900. Net Income for the year ended December 31, 2021, IS $6,850. 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.) Answer is not complete. No Credit Date March 01, 2021 Debit 19,800 General Journal Cash Common Stock Additional Paid-In Capital 1.400 18,200 2 April 01, 2021 4,200 Cash Preferred Stock Additional Paid-In Capital 4.025 3 June 01, 2021 1.200 113 X Stock Dividends Dividends Payable Problem 10-2B Part 2 2. Select whether each of the following transactions Increases (+) or decreases ( - ) total assets, total liabilities, and total stockholders' equity. (If none of the categories apply for a particular item, leave the cell blank.) Transaction Total Assets Total Total Liabilities Stockholders' Equity Issue common stock Issue preferred stock Declare cash dividends Pay cash dividends Purchase treasury stock Reissue treasury stock