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Required information Problem 10-2B Record equity transactions and indicate the effect on the balance sheet equation (LO10-2, 10-3, 10-4, 10-5) 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, 125 shares of preferred stock and 2,400 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March April June 1 Tue 2.400 additional shares of common stock for $19 per share. 1 Issue 175 additional shares of preferred stock for $34 per share. 1 Declare a cash dividend on both common and preferred stock of $0.70 per share to all stockholders of record on June 15 August 1Purchase 175 shares of comon treasury stock for $16 per share. October 1 Reissue 125 shares of treasury stock purchased on August 1 for $18 per share. Nautical has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, $1,250; Common Stock, $2,400; Additional Paid in Capital, $18,900; and Retained Earnings, $10,900. Net income for the year ended December 31, 2021, is $7,350. Problem 10-2B Part 1 Required: 1. Record each of these transactions. If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) No 1 Date March 01, 2021 Credit General Journal Cash Common Stock Additional Paid-In Capital Debit 45,600 2,400 43,200 April 01, 2021 5,950 Cash Preferred Stock Additional Paid-In Capital 1,750 4,200 3 June 01, 2021 3,375 Dividends Dividends Payable Preferred Stock 00 00 00 00 OOO OOO June 30, 2021 Dividends Payable Cash 5 August 01, 2021 Treasury Stock Cash 2,800 2,800 6 October 01, 2021 Cash Treasury Stock 2,250 Required information Problem 10-4B Analyze the stockholders' equity section (L010-7) The following information applies to the questions displayed below. The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) (sin thousands) Stockholders' equity Preferred stock, 550 par value Common stock, 55 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity 13.000 28.500 46,000 (2,300 585,300 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands Problem 10-4B Part 1 Required: 1. How many shares of preferred stock have been issued? (Enter your answer in total number of Shares, not in thousands.) Number of shares Required information Problem 10-4B Analyze the stockholders' equity section (L010-7) [The following information applies to the questions displayed below.) The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands) Stockholders equity! Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity $ 0 13,000 28,600 41,600 46,000 (2,300) $85,300 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. Problem 10-4B Part 2 2. How many shares of common stock have been issued? (Enter your answer in total number of shares not in thousands.) Number of shares Required information Problem 10-4B Analyze the stockholders' equity section (LO10-7) The following information applies to the questions displayed below.) The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) 1$ in thousands) Stockholders' equity: Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity $ 0 13,000 28,600 41,600 46.000 (2,300) $85,300 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands Problem 10-4B Part 3 3. Total paid-in capital is $41.60 million. At what average price per share were the common shares issued? Common share issued por share Required information Problem 10-4B Analyze the stockholders' equity section (LO10-7) The following information applies to the questions displayed below.) The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands ) Stockholders' equity: Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity $ 0 13,000 28,600 41,600 46,000 (2,300) $85,300 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. Problem 10-4B Part 4 4. If retained earnings at the beginning of the period was $39 million and net income during the year was $10,438,750, how much was paid in dividends for the year? (Enter your answer in dollars not in millions (ie., 5 should be entered as 5,000,000).) Dividends paid Required information Problem 10-4B Analyze the stockholders' equity section (L010-7) The following information applies to the questions displayed below.) The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Dalance sheet (partial) is in thousands) Stockholders' equity: Preferred stock, S50 par value Common stock, $$ par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity 13,000 28,600 41,600 45,000 (2,300) $85,300 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands Problem 10-4B Part 5 5. If the treasury stock was purchase at $16 per share, how many shares were purchased? (Enter your answer in total number of shares, not in thousands.) Number of shares

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