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%, S10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations. Zenuiry 2 Issue 110,000 shares of comon stock tor s7o pen share. Rebruary 14 Issue 60,000 shares of preferred stock for $12 per share. May a Purchase 11, oee shares of its own comono stock for ste pen share. Hey 31 Resell 5,500 sharas of treasury stock for 565 per share. becesaber 1 Declare a cash divldend on Its comeon stock of 30.25 per share and a 536 , 009 (6x of par value) cash dividend on its preferred stock payable to all stoclholders of record on Decenter 15 . The dividend is payable on Decesber 39. (Hintz olvidends are not paid on thessury stock.) Decenber se pay the cash dividends declared on Decenber 1. Problem 10.6A (Static) Part 2 2. Prepare the stockholders' equity section of the balance sheet as of December 31,2024 . Net income for the year was $490,000 (Amounts to be deducted should be indicoted by o minus sign.) Answer is complete but not entirelv correct. Required information (Stockholders' Equity Section)