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 Narch 1 Issue 3,e00 additional shares of comon stock for $10 per share. April 1 Issue 175 additional shares of preferred stock for $40 per share. June 1 Declare a cash dividend on both compon and preferred stock of se.25 per share to all stockholders of record on June 15 . June 30 Pay the cash dividends declared on June 1. August 1 Purchase 175 shares of comon treasury stock for \$7 per share. October 1 lesell 125 shares of treasury stock purchased on August 1 for 19 per share. Nautical has the following beginning balances in its stockholders' equity accounts on Januory 1,2024: Preferred Stock, $1,250; Common Stock, \$3,000, Additional Paid-in Capital, \$19,500; and Retained Earning5, \$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 foliowing for Nautical: Octoben 1 Resell 125 shares of treasury stock purchased on August 1 for $9 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2024 : Preferred Stock, $1,250; Common Stock, \$3,000, Additional Paid-in Capital, $19,500; and Retained Earnings, $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: 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.)