RECORD TRANSACTIONS AND CREATE A BALANCE SHEET

TB PR Qu. 10-181 (Static) Hoop It Up has two classes of stock... Hoop it Up has two classes of slock authorted 7k,520 par value preferred and $1 par value conmon, The following transactions affected stockholder' equity durting 2024, its first yeat of operations: Pebruary 2 tasues 1 wilion shares of comon stock for sa0 per shere. February 4 Tisues 50,000 shares of preferred stock for si2 per ihare. June is Purchases 190,00 shares of its on comon stock for sill per there. August is Resel1s 75 , 000 shares of treasury steck for $21 oer share. preferred stock payable to al1 stockholoers oe record on Wovepber 15, mint, ntwidends are not paid on treasury stock. Novenber se Fays the divioends declared on hovenber 1. Requlred: 1. Record each or these transactions: 2. Prepare the stockholders equity section of the balance sheet as of December 31.2024 . Net incorne for the year was 532,20000 Complete this question by entering vour answers in the tabs below. Prepare the stackholders' equity section of the balance sheet as of December 31, 2021. Net income for the year was $3,200,000. (Amounts to be deducted should be indicated tr a minus tiani) TB PR Qu. 10-181 (Static) Hoop It Up has two classes of stock... Hoop it Up has two classes of slock authorted 7k,520 par value preferred and $1 par value conmon, The following transactions affected stockholder' equity durting 2024, its first yeat of operations: Pebruary 2 tasues 1 wilion shares of comon stock for sa0 per shere. February 4 Tisues 50,000 shares of preferred stock for si2 per ihare. June is Purchases 190,00 shares of its on comon stock for sill per there. August is Resel1s 75 , 000 shares of treasury steck for $21 oer share. preferred stock payable to al1 stockholoers oe record on Wovepber 15, mint, ntwidends are not paid on treasury stock. Novenber se Fays the divioends declared on hovenber 1. Requlred: 1. Record each or these transactions: 2. Prepare the stockholders equity section of the balance sheet as of December 31.2024 . Net incorne for the year was 532,20000 Complete this question by entering vour answers in the tabs below. Prepare the stackholders' equity section of the balance sheet as of December 31, 2021. Net income for the year was $3,200,000. (Amounts to be deducted should be indicated tr a minus tiani)