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 1,000 shares of common stock have been issued. The following transactions affect stockholders' equity' during 2024 : March 1 Issue 1,600 additional shares of conmon stock for s10 per share. Apri1 1 Issue 150 additional shares of preferred stock for sze per share. June 1 Declare a cash dividend on both comeon and preferred stock of $0.25 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 comon treasury stock for $7 per share. October 1 Reissue 150 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, $1,500; Common Stock, $1,000; Additional Paid-in Capital, $17,500; and Retained Earnings, $9,500. Net income for the year ended December 31,2024 , is $6,650. Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" is the first account field.) Journal entry worksheet 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal the first account field.) Journal entry worksheet Record the issuance of 1,000 additional shares of common stock for $10 per share. Note: Enter debits before credits