[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 2015, 370 shares of preferred stock and 4,700 shares of common stock have been issued. The following transactions affect stockholders' equity during 2015 March May July October 1 Issues 270 shares of preferred stock for $52 per share. December 1 Declares a cash dividend on both common and preferred stock of $1.20 per share to all 1 15 10 Issues 1,800 shares of common stock for $49 per share. Repurchases 470 shares of treasury stock for $42 per share Reissues 270 shares of treasury stock purchased on May 15 for $47 per share stockholders of record on December 15. (Hint Dividends are not paid on treasury stock.) 31 Pays the cash dividends declared on December 1. December Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2015: Preferred Stock, $370; Common Stock, $47; Additional Paid-in Capital, $79,500; and Retained Earnings, $31,900. Net income for the year ended December 31, 2015, is $12,200