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Saved Help Part 1 of 2 Required information Problem 1 0 - 5 B ( Static ) Understand stockholders' equity and the statement of stockholders'

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Problem 10-5B (Static) Understand stockholders' equity and the statement of stockholders' equity (LO107)
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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:
March 1 Issue 3,000 additional shares of common stock for $10 per share.
April 1 Issue 175 additional shres of preferred stock for $40 per share.
June 1 Declare a cash dividend on both common and preferred stock of $0.25 per share to all stockholders
June 30 Pay the cash dividends declared on June 1.
August 1 Purchase 175 shares of common treasury stock for $7 per share.
October 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:
Problem 10-5B (Static) Part 1
Required:
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.)
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