Required informstion Problem 10-6A (Algo) Record equity transactions and prepare the stockholders' equity section (LO10-2, 103,104,105,107) [The following information applies to the questions displayed below.] Golf Apparel has two classes of stock authorized: 4\%, \$10 par preferred, and $1 par value common. The following transactions affect stockholders equity during 2024, its first year of operations. Jahuary 2 is sue 120,000 shares of common stock for $68 pen share. February 14 issue 58,000 shares of preferred stock for $13 per share. May 81 Purchase 12,000 shares of its oin common stock for $58 per share. December 1 Resell 6,000 shares of treasury stock for $63 per share. dividend on its preferred itock common stock of $0.35 per share and a $23,200 (4\% of par value) cash payable on December 30, (Hint: Divide to al1 stockholders of record on Decemben 15, The dividend is December 30 pay the cash dividends declared on December 1 . Problem 10-6A (Algo) Part 2 2. Prepare the stockholders equity section of the baionce sheet as of Decemben 31,2024 Net income for the year was \$48\% (Amounts to be deducted should be indicated by o minus sign.)