The following information applies to the questions displayed below Donnie Hilfiger has two classes of stock authorized $1 par preferred and $001 par value common As of the beginning of 2018, 100 shares of preferred stock and 2,900 shares of common stock have been issued. The following transactions affect stockholders equity during 2018 March 1 Issue 1,200 shares of common stock for $31 per share May 15 Purchase 500 shares of treasury stock for $24 per share July 10 Reissue 300 shares of treasury stock purchased on May 15 for $29 per share October 15 Issue 300 shares of preferred stock for $34 per share December 1 Declare a cash dividend on both common and preferred stock of $0 80 per share to all stockholders of record on December 15. (Hint Dividends are not paid on treasury stock) December 31 Pay the cash dividends declared on December 1 Donnie Hilfiger has the following beginning balances in its stockholders equity accounts on January 1. 2018 Preferred Stock, $100, Common Stock, $29. Additional Paid-in Capital, $65000, and Retained Earnings. $25,000 Net income for the year ended December 31, 2018, is $9700 Taking into consideration the beginning balances on January 1, 2018 and all the trnsactions during 2018, respond to the following for Donnie Hilfiger