R 10 HOMEWORK ASSIGNMENT Sawad Help Save & Exit Check my Required information The following information applies to the questions displayed below! Major League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: + January 2 Issue 110.000 shares of common stock for $57 per share. February 14 Issue 47,000 shares of preferred stock for $12 per share. May 8 Purchase 11,000 shares of its own common stock for $47 per share. May 31 Resell 5,500 shares of treasury stock for $52 per share. December 1 Declare a cash dividend on its common stock of $0.65 per share and a $28,200 (6% of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 10. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1. nces Required: 1. Record each of these transactions. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the first account field.)