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 , 100 shares of preferred stock and 1,500 shares of common stock have been issued. The following transactions affect stockholders' equity during 2024 : March 1 Issue 1,500 additional shares of common stock for $20 per share. April 1 Issue 200 additional shares of preferred stock for \$25 per share. June 1 Declare a cash dividend on both common and preferred stock of $0.75 per share to all stockholders of record on June 15 . June 30 Pay the cash dividends declared on June 1. August 1 Purchase 200 shares of common treasury stock for $17 per share. October 1 Resell 100 shares of treasury stock purchased on August 1 for $19 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Preferred Stock, $1,000; Common Stock, $1,500; Additional Paid-in Capital, $18,000; and Retained Earnings, $10,000. Net income for the year ended December 31,2024 , is $6,900. 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.)