HELLO WOULD APPERICATE ALL PARTS DONE WITH EXPLANATION IF POSSIBLE THANKS !!!!

! Required information Problem 10-6A (Algo) Record equity transactions and prepare the stockholders' equity section (L010-2, 10-3, 10-4, 10-5, 10-7) [The following information applies to the questions displayed below.) Little League Apparel has two classes of stock authorized: 5%, $10 par preferred, and $1 por value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issue 100,000 shares of common stock for 56) per share. February 14 Issue 53,000 shares of preferred stock for $11 per share. May 8 Purchase 10,000 shares of its own conon stock for $53 per share. May 31 Resell 5,000 shares of treasury stock for $58 per share. December 1 Declare a cash dividend on its common stock of $0.65 per share and a $26,500 (58 of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1. Problem 10-6A (Algo) Part 1 Required: 1. Record each of these transactions. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction ist Journal entry worksheet 2 1 5 6 7 Record the issuance of 100,000 shares of common stock for $63 per share, Note: Enter debits before credits General Journal Debit Credit Date January 02, 2024 Record entry Clear entry View general Journal Problem 10-6A (Algo) Part 2 2. Prepare the stockholders' equity section of the balance sheet as of December 31, 2024. Net Income for the year was $483,000. (Amounts to be deducted should be indicated by a minus sign.) LITTLE LEAGUE APPAREL Balance Sheet (Stockholders' Equity Section) December 31, 2024 Stockholders' Equity Total Paid-in Capital 0 Total Stockholders' Equity $ 0