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Yous 14 Required information 22 Problem 10-6A Record equity transactions and prepare the stockholders' equity section (L010-2.10-3, 10-4, 10-5, 10-7) The following some phos to the questions displayed below) 5 Major League Apparel has two classes of stock outhorized 4% 510 par preferred, and St par value common. The following transactions affect stockholders' equity during 2021, its first year of operations JANTY 120,000 shares of common stock for $50 per share. Perkry 40,000 shares of preferred stock for 11 per share Ney # Purchase 12.00 shares of its stok for $40 per she NAY 31 Rrall 6.000 shares of treasury stock for $65 per here December 1 Declare divided on it common spek at 10.25 per share and a $16,000 14 of par valse) a dividend on its preferred stock payable to all solders of record on December 15.me dividend is payable en Derber 30. (Minta Dividende are not paid treenery stock Deer 30 Pay the cash dividende declared on December 1. Problem 10-6A Part 2 2. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021. Net income for the year was $470.000 (Amounts to be deducted should be indicated by a minus sign) MAJOR LEAGUE APPAREL Bection Dace , 2001 Stockholders' Equity + Paldin Cara Yous 14 Required information 22 Problem 10-6A Record equity transactions and prepare the stockholders' equity section (L010-2.10-3, 10-4, 10-5, 10-7) The following some phos to the questions displayed below) 5 Major League Apparel has two classes of stock outhorized 4% 510 par preferred, and St par value common. The following transactions affect stockholders' equity during 2021, its first year of operations JANTY 120,000 shares of common stock for $50 per share. Perkry 40,000 shares of preferred stock for 11 per share Ney # Purchase 12.00 shares of its stok for $40 per she NAY 31 Rrall 6.000 shares of treasury stock for $65 per here December 1 Declare divided on it common spek at 10.25 per share and a $16,000 14 of par valse) a dividend on its preferred stock payable to all solders of record on December 15.me dividend is payable en Derber 30. (Minta Dividende are not paid treenery stock Deer 30 Pay the cash dividende declared on December 1. Problem 10-6A Part 2 2. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021. Net income for the year was $470.000 (Amounts to be deducted should be indicated by a minus sign) MAJOR LEAGUE APPAREL Bection Dace , 2001 Stockholders' Equity + Paldin Cara