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 3,000 additional shares of conen stock foe sio 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 40.25 per share to all stockholders of record tone a on Jure 15 . June 30 Pay the cash dividends declared on June 1. August 1 Purchase 175 shares of comon treasury stock for 37 per share. October 1 Resell 125 shares of treasury steck purchased on Awgust 1 for $9 per share. Nautical has the following beginning balonces in its stockholders' equity accounts on Jonuary 1, 2024. Preferred Stock, $1,250, Common Stock. $3,000, Additional Paid-in Copital, $19,500, and Retained Eamings, \$11,500 Net income for the year ended December 31,2024 , is $7,650 Taking into consideration the beginning balances on January 1,2024 and all the transactions during 2024, respond to the following for Nautical: Requiredt 1. Prepate the stocicholders' equity section of the balance sheet as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) 2. Prepare the statement of stockholders' equity for the year ended December 31, 2024 . (Amounts to be deducted should be indicated by a minus sign.)