Required Information Problem 10-6B Record equity transactions and prepare the stockholders' equity section (LO10-2, 10-3, 10-4, 10-5, 10-7) The following information applies to the questions displayed below) National League Gear has two classes of stock authorized: 5%, $20 par preferred, and $5 par value common. The following transactions affect stockholders' equity during 2021, National League's first year of operations: Pebruary 2 Ioue 1.5 million shares of common stock for $30 per share. Februaty Innue 550,000 shares of preferred stock for $24 per share. June 15 Purchase 150,000 shares of its own common stock for $25 per share. August 15 Resell 112,500 shares of treasury stock for $40 per share. November 1 Declare a cash dividend on its common stock of $1.50 per share and a $550,000 (56 of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.) November 30 pay the dividends declared on November 1. Problem 10-6B Part 1 Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction lit Journal entry worksheet