Required information [The following information applies to the questions cisplayed below] Donnie Hiffiger has two classes of stock authorized: $1 par preferred and \$0.01 par value common As of the beginning of 2024,380 shates of preferred stock and 4,800 shares of common stock have been issued. The following transactions affect stockhoiders' equity during 2024 March 1 Issue 1,900 shares of comon stock, for sse pen share. May 15 Purchase 480 shares of treasury stock for $43 per share. July 10 Resell 280 shores of treasury stock purchased on May is for $48 per share. October 15.7 ssae 280 shares of preferred stock for $53 per share. Deceraber 1 Declare a cash dividend on both coemon and preferred stock of $1,30 per shace to all stockholders of record on Decenber 15. (Hint, Dlvidends are not paid on tressury stock.) becember, 31 pay the cosh dividends declared on Deceiber 1 . Doninie Hatfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$380. Common Stock, \$48, Additional Paid-in Capitat, $80,000, and Retained Earnings, $32,100. Net income for the year ended December 31,2024 , is $12,400. Required: 1. Record each of these transactions (If no entry is required for a porticular transoction/event, select "No Journol Entry Required" in the first account field.) Journal entry worksheet (1) (2.) 6. 7 > Record the declaration of a cash dividend on both common and prefecred stock of $1.30 per share to all stockholders. (Aint: Dividends are not paid on treasury stock.) Noce: boter debits before credits