Problem $10-6$A $($Algo$)$ Record equity transactions and prepare the stockholders' equity section $($LO$10-2,$

$10-3,10-4,10-5,10-7)$

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

Little League Apparel has two classes of stock authorized: $5\%,$ $$10$ par preferred, and $$1$ par value common. The following

transactions affect stockholders' equity during $2024,$ its first year of operations:

Problem $10-6$A $($Algo$)$ Part $2$

Prepare the stockholders' equity section of the balance sheet as of December $31,2024.$ Net income for the year was $$486,000.$

$($Amounts to be deducted should be indicated by a minus sign.$)$