Return to question RY. Problem 10-58 Understand stockholders' equity and the statement of stockholders' equity (L010-7) 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 2021. 150 shares of preferred stock and 2,800 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021 March 1 Issue 2, see additional shares of common stock for $12 per share. April 1 Issue 150 additional shares of preferred stock for 338 per share. June 1 Declare a cash dividend on both common and preferred stock of 50.35 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 59 per share. October 1 Resell 150 shares of treasury stock purchased on August 1 for $11 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock. $1.500: Common Stock. $2,800: Additional Paid-in Capital, $19.300 and Retained Earnings. $11.300. Net income for the year ended December 31, 2021. is $7,550 Taking into consideration the beginning balances on January 1, 2021 and all the transactions during 2021, respond to the following for Nautical Problem 10-5B Part 1 Required: 1. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021 (Amounts to be deducted should be Indicated by a minus sign.) Answer is complete but not entirely correct. NAUTICAL Balance Sheet (Stockholders' Equity Section) December 31, 2021 Stockholders equity Preferred stock OS 2000 Common stock 1 500 Additional paid-in capital 31,700 Total paid in capital Retained sings Treasury stock sis 36.200 75503 (1.700) Total stockholders equity S 41060