Problem 10-6A Record equity transactions and prepare the stockholders' equity section (LO10-2, 10-3, 10-4, 10-5, 10-7) M or eague Apparel has two classes of stock authorized 6% $10 par prefered, and $1 par vahe co w on The foi o January 2 Issue 110,000 shares of common stock for $67 per share. May 8 Repurchase 11,000 shares of its own common stock for $57 per share. gva sactions a rect stockholders' equity during 2018, its first year of operations: 4 Issue 57,000 shares of preferred stock for $12 per share May on its common stock of SO 40 per thre and a $24200(6% of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The 30. (Hint Dividends are not paid on treasury stock) is payable on December 30 Pay the cash dividends declared on December 1 equired: . Record each of these transactions. (If no entry is required for a particular transaction, select "No journ View transaction list Journal entry worksheet 2 4 5 6 Issue 110,000 shares of common stock for $67 per share. Note: Enter debits before credits. Date General Journal Debit Credit January 02, 2018 Clear entry View general journal Record entry equity section of the balance sheet as of D 31, 2018. Net income for the year was $487,000 MAJOR LEAGUE APPAREL 31, 2018