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 . 150 shares of preferred stock and 1,300 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024 : March 1 Issue 1,300 additional shares of comnon atoek for 513 per share. April 1 Iasue 150 additional whares of preferred ntock for 623 per whare. Jone 1 Deelare a cash dividend on both comen and preferred atoek of $0.40 per ahare to all atoekbolders June 30 pay record on June 15. Auquat 1 purchase 250 abares of eomen treanury atoek for $10 per share. October 1 hese11 150 sharen of treasury lotok purebased on Auguat 1 for $12 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock. \$1,500; Common Stock, \$1,300; Additional Paid-in Capital, \$17,800; and Retained Earnings, \$9,800. Net income for the year ended December 31,2024 , is $6,800. Taking into consideration the beginning balances on January 1, 2024 and all the transactions during 2024, respond to the following for Nautical Required: 1. Prepare the stockhoiders' equity section of the balance sheet as of December 31, 2024. (Amounts to be deducted should be indicated 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. Prepare the statement of stockholders' equity for the year ended December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.)