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 2,200 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March1April1June1June30August1Purchase250sharesofcommontreasurystockfor$14pershare.October1Resell150sharesoftreasurystockpurchasedonAugust1for$16pershare.Issue2,200additionalsharesofcommonstockfor$17pershare.Issue150additionalsharesofpreferredstockfor$32pershare.Declareacashdividendonbothcommonandpreferredstockof$0.60persharetoallstockholdersofrecordonJune15.PaythecashdividendsdeclaredonJune1. March 1 Issue 2,200 additional shares of common stock for \$17 per share. April 1 Issue 150 additional shares of preferred stock for $32 per share. June 1 Declare a cash dividend on both common and preferred stock of $0.60 per share to all stockholders of record on June 15 . June 30 Pay the cash dividends declared on June 1. August 1 Purchase 250 shares of common treasury stock for $14 per share. October 1 Resell 150 shares of treasury stock purchased on August 1 for \$16 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$1,500; Common Stock, \$2,200; Additional Paid-in Capital, \$18,700; and Retained Earnings, \$10,700. Net income for the year ended December 31,2024 , is $7,250. 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 stockholders' equity section of the balance sheet as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.)