Required information Problem 10-6A (Static) Record equity transactions and prepare the stockholders' equity section (LO10-2, 103,104,105,107) [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 2024 , its first year of operations: January 2 Issue 110,000 shares of comen stock for $70 per share. February 14 Issue 60,000 shares of preferred stock for $12 per share. May 8 P Purchase 11,000 shares of its own comnon stock for $60 per share. May 31 Resell 5 , 500 shares of treasury stock for $65 per share. Decenber 1 Declare a cash dividend on its common stock of 50.25 per share and a $36,000 (6k of par value) cash dividend on its preferred stock payable to all stocihholders of record on December 15. The dividend is payable on Decenber 36. (Hint: Dividends are not paid on treasury stock.) December 30 Pay the cash dividends declared on December 1. Required information