1. Record each of these transactions

2. Prepeare stockholders equity section of the balance sheet as of December 31, 2018. Net income for the year was $4,740,000.

National League Gear has two classes of stock authorized: 4%, $20 par preferred, and $5 par value common. The following transactions affect stockholders' equity during 2018 National League's first year of operations: February 2 Issue 1.1 million shares of common stock for $19 per share. February 4 Issue 440,000 shares of preferred stock for $23 per share June 15 Repurchase 110,000 shares of its own common stock for $14 per share. August 15 Reissue 82,500 shares of treasury stock for $29 per share November 1 Declare a cash dividend on its common stock of $1.10 per share and a $3520 DO 4% of par value cash di record on November 15. (Hint Dividends are not paid on treasury stock.) November 30 Pay the dividends declared on November 1. dend on ts preferred stock pa able to a stockholders or