The following information applies to the questions displayed below.) Nicole has been financing Nicole's Getaway Spa (NGS) using equity financing. Currently NGS has authorized 100,000 no-par preferred shares and 200,000 $2 par common shares. Outstanding shares Include 46,000 preferred shares and 36,000 common shares. Recently the following transactions have taken place. a. NGS Issues 800 preferred shares for $13 a share. b. NGS repurchases 800 common shares for $12 a share. c. On November 12, the board of directors declares a $0.50 cash dividend on each outstanding preferred share. d. The dividend is paid December 20. 1. value: 2.50 points 2.50 points Required: 1. Prepare the journal entries needed for each of the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list 1 Record the issuance of 800 shares of preferred stock with no par value for a price of $13 per share. e for a 2 Record the purchase of 800 previously issued common shares for a price of $12 per share. 3 Record the declaration of a $0.50 cash dividend on the shares of preferred stock outstanding. Credit 4 Record the payment of the cash dividend to the preferred shareholders. Note : = journal entry has been entered Record entry Clear entry View general journal value: 2.50 points 2. If you were a common shareholder concerned about your voting rights, would you prefer Nicole to issue additional common shares or additional preferred shares? Additional Common Shares O Additional Preferred Shares 3. value: 2.50 points 3. Show the overall effect of each transaction on the assets, liabilities, and shareholders' equity of the company. (Use + for increase, - for decrease.) (Leave cell blank if there is no effect.) Transaction Balance Sheet Liabilities Assets Stockholders' Equity value: 2.50 points 4. How would each transaction affect the ROE ratio? (Use + for increase, - for decrease.) (Leave cell blank if there is no effect.) Transaction ROE b. d