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Problem $10-5$A $($Static$)$ Understand stockholders' equity and the statement of stockholders' equity $($LO$107)$

$[$The following information applies to the questions displayed below.$]$

Donnie Hilfiger has two classes of stock authorized: $$1$ par preferred and $$0\mathrm{.}01$ par value common. As of the beginning of $2024,300$ shares of preferred stock and $4,000$ shares of common stock have been issued. The following transactions affect stockholders' equity during $2024$:

March $1$ Issue $1,100$ shares of common stock for $$42$ per share.

May $15$ Purchase $400$ shares of treasury stock for $$35$ per share.

July $10$ Resell $200$ shares of treasury stock purchased on May $15$ for $$40$ per share.

October $15$ Issue $200$ shares of preferred stock for $$45$ per share.

December $1$ Declare a cash dividend on both common and preferred stock of $$0\mathrm{.}50$ 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 $1,2024$: Preferred Stock, $$300$; Common Stock, $$40$; Additional Paid$-$in Capital, $$76,000$; and Retained Earnings, $$30,500.$ Net income for the year ended December $31,2024,$ is $$10,800.$

Taking into consideration the beginning balances on January $1,2024$ and all the transactions during $2024,$ respond to the following for Donnie Hilfiger:

Problem $10-5$A $($Static$)$ Part $2$

$2.$ Prepare the statement of stockholders' equity for the year ended December $31,2024.($Amounts to be deducted should be indicated by a minus sign.$)$

$\backslash$table$[[$DONNIE HILFIGER$],[$Statement of Stockholders' Equity$],[$For the Year Ended December $31,2024],[,\backslash$table$[[$Preferred$],[$Stock$]],\backslash$table$[[$Common$],[$Stock$]],\backslash$table$[[$Additional Paid$-],[$in Capital$]],\backslash$table$[[$Retained$],[$Earnings$]],$Treasury Stock,$\backslash$table$[[$Total$],[$Stockholders$\text{'}],[$Equity$]]],[$Balance$,$ January $1],[$Issue common stock$],[$Purchase treasury stock$],[$Resell treasury stock$],[$Issue preferred stock$],[$Declare cash dividends$],[$Net income$],[$Balance$,$ December $31,$$$,$$$,$$$,$$$,$$$,$$

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