Required information [The following information applies to the questions displayed below] Donnie Hilfiger has two closses of stock authorized: \$1 par preferred and \$0.01 par value common. As of the beginning of 2024,300 shares of preferred stock and 4,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: Wafeh 1 Ingwe 1,100 ahares of common stoek for 542 per share. May is: purchsse 400 whares of treasury stook for 835 per ahare. Jaly 10 Wesell 200 shares of treanury eteek parehated on tay 15 for 640 per whare. Donnie Hiffiger has the following beginning balances in its stockholders' equity occounts on January 1, 2024: Preferred Stock, \$300; Common Stock, \$40; Additional Paid-in Capital, \$76,000; and Retained Eaming5, \$30,500. Net income for the year ended December 31,2024 , is $10,800. Taking into consideration the beginning balances on January 1, 2024 and all the transactions during 2024, respond to the following for Donnie Hilifger: Required: 1. Prepare tho stockholders' equily section of the balance sheet as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Pre Stock, \$300; Common Stock, \$40; Additional Paid-in Capital, \$76,000; and Retained Earnings, $30,500. Net inco the year ended December 31,2024 , is $10,800. Taking into consideration the beginning balances on January 1, 2024 and all the transactions during 2024, respor following for Donnie Hilfiger: Required: 1. Prepare the stockholders' equity section of the balance sheet as of December 31, 2024. (Amounts to be deducted sho ndicated by a minus sign.)