Required information [The following information applies to the questions displayed below.] Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2024, 490 shares of preferred stock and 5,900 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 May 15 July 10 October 15 December 1 Issue 3,000 shares of common stock for $61 per share. Purchase 590 shares of treasury stock for $54 per share. Resell 390 shares of treasury stock purchased on May 15 for $59 per share. Issue 390 shares of preferred stock for $64 per share. Declare a cash dividend on both common and preferred stock of $2.40 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividends declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred: Stock, $490; Common Stock, $59; Additional Paid-in Capital, $85,500; and Retained Earnings, $34,300. Net income for the year ended December 31, 2024, is $14,600. Journal entry worksheet 1 2 3 5 9 7 Record the issuance of 3,000 shares of common stock for $61 per share. Note: Enter debits before credits. General Journal Debit Credit 183,000 Date March 01, 2024 Cash Common Stock 30 > Record entry Clear entry View general journal Journal entry worksheet < 2 3 5 9 Record the purchase of 590 shares of treasury stock for $54 per share. Note: Enter debits before credits. Date General Journal Debit Credit May 15, 2024 Treasury Stock 31,860 Cash 31,860 Record entry Clear entry View general journal < 2 3 5 6 7 Record the resale of 390 shares of treasury stock purchased on May 15 for $59 per share. Note: Enter debits before credits. Date July 10, 2024 Cash Treasury Stock General Journal Debit Credit 23,010 > Record entry Clear entry View general journal 2 3 4 5 6 7 Record the issuance of 390 shares of preferred stock for $64 per share. Note: Enter debits before credits. General Journal Debit Credit 24,960 Date October 15, 2024 Cash Preferred Stock 390 > Record entry Clear entry View general journal < 2 3 5 10 6 Record the declaration of a cash dividend on both common and preferred stock of $2.40 per share to all stockholders. (Hint: Dividends are not paid on treasury stock.) Note: Enter debits before credits. Date General Journal Debit Credit December 01, 2024 Dividends Record entry Clear entry View general journal 1 2 3 5 6 7 Record the entry on December 15, the date of record. Note: Enter debits before credits. Date December 15, 2024 General Journal Debit Credit Clear entry View general journal Record entry 2 3 4 5 9 Record the payment of the cash dividends declared on December 1. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general journal Donne Ciniger (SSL ver por presented and par value UAS wie veying vi 2024, 490 shares of preferred stock and 5,900 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March 1 Issue 3,000 shares of common stock for $61 per share. May 15 July 10 October 15 December 1 Purchase 590 shares of treasury stock for $54 per share. Issue 390 shares of preferred stock for $64 per share. Resell 390 shares of treasury stock purchased on May 15 for $59 per share. Declare a cash dividend on both common and preferred stock of $2.40 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividends declared on December 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, $490, Common Stock, $59; Additional Paid-in Capital, $85,500; and Retained Earnings, $34,300. Net income for the year ended December 31, 2024, is $14,600. s 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 Issue common stock Purchase treasury stock. Resell treasury stock Issue preferred stock Declare cash dividends Pay cash dividends Total Assets. Total Liabilities Total Stockholders Equity