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, 300 shares of preferred stock and 4,000 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 1,100 shares of common stock for $42 per share. Purchase 400 shares of treasury stock for $35 per share. Resell 200 shares of treasury stock purchased on May 15 for $40 per share. Issue 200 shares of preferred stock for $45 per share. Declare a cash dividend on both common and preferred stock of $0.50 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, $300; Common Stock, $40, Additional Paid-in Capital, $76,000; and Retained Earnings, $30,500 Net income for the year ended December 31, 2024, is $10,800 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 Total Total Assets Liabilities Total Stockholders Equity March 1 May 15 July 10 Issue 1,100 shares of common stock for $42 per share. October 15 December 1 Purchase 400 shares of treasury stock for $35 per share. Resell 200 shares of treasury stock purchased on May 15 for $40 per share. Issue 200 shares of preferred stock for $45 per share. Declare a cash dividend on both common and preferred stock of $0.50 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, $300, Common Stock, $40, Additional Paid-in Capital, $76,000, and Retained Earnings, $30,500. Net income for the year ended December 31, 2024, is $10,800 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