[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, 100 shares of preferred stock and 1,200 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 1,200 additional shares of common stock for $12 per share. April 1 Issue 200 additional shares of preferred stock for $22 per share. June 1 Declare a cash dividend on both common and preferred stock of $0.35 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 $9 per share. October 1 Reissue 100 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, $1,000; Common Stock, $1,200; Additional Paid-in Capital, $17,700; and Retained Earnings, $9,700. Net income for the year ended December 31, 2021, is $6,750. Answer is complete but not entirely correct. No Date General Journal Debit Credit 1 March 01, 2021 Cash 14,400 Common Stock Additional Paid-In Capital 1,200 13,200 2 April 01, 2021 4,400 Cash Preferred Stock Additional Paid-In Capital 1,200 3,200 June 01, 2021 2,700 Dividends Dividends Payable 2,700 4 June 30, 2021 2,700 Dividends Payable Cash 2,700 X 5 1,800 August 01, 2021 Treasury Stock Cash 1,800 Transaction Total Assets Total Total Liabilities Stockholders' Equity Issue common stock Issue preferred stock Declare cash dividends Pay cash dividends Purchase treasury stock Reissue treasury stock