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 2024,330 shares of preferred stock and 4,300 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024: March-1 Issue 1,460 shares of common stock for $45 per share. May 15 Purchase 436 shares of treasury stock for $38 per share. July 10 Resell 230 shares of treasury stock purchased on May 15 for $43 per share. October 15 Issue 230 shares of preferred stock for 548 per share. December 1 Declare a cash dividend on both comnon and preferred stock of se.80 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 Hifiger has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, \$330; Common Stock, \$43; Additional Paid-in Capital, \$77,500; and Retained Earnings, \$31,100. Net income for the year ended December 31,2024 , is $11,400. Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the entry on December 15, the date of record