Required information [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 . 125 shares of preferred stock and 3,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024 March 1 issue 3, eee additional shares of conton stock for s1e per share. April 1 issue 175 additional shares of preferred stock for $40 per share. June 1 Declare a cash dividend on both comon and preferred stock of $9.25 per share to all stockholders of record on June 15. June 30 pay the cash aividends declared on June 1. August 1 Purchase 175 shares of comon treasury stock for $7 per share. october 1 Resell 125 shares of treasury stock purchased on August 1 for 59 per share. Nautical has the following beginning balances in its stockholders equity accounts on January 1, 2024: Preferred Stock. \$1,250, Common Stock, \$3.000; Additional Paid-in Copital, \$19,500, and Retained Earnings, \$11,500. Net income for the year ended December 31,2024 , is $7650 Taking into consideration the beginning balances on January 1, 2024 and ail the transactions during 2024, respond to the following for Nautical: Required: 1. Prepare the stockholders' equity section of the balance sheet as of December 31, 2024. (Amounts to be deducted should be ndicated by a minus sign.) Required: 1. Prepare the stockholders' equity section of the balance sheet as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) 2. Prepore the statement of stockholders' equity for the year ended December 31,2024 .Amounts to be deducted should be indicated by a minus sign.)