Barry, Hank, and Babe form a company named Long Ball Investments, hoping to find that elusive home run stock. A new clothing company by the name of Major League Apparel has caught their eye. Major League Apparel two classes of stock authorized par preterred and $1 par value common, Long Bal Investments has the following transactions during year. None of the are large enough exert asignincant infuence. January 2 Purchase seo per February 14 Purchase 500 shares of Major League preferred stock $11.00 per share. May 15 Sell for of Major League's common stock for $52 per share. December 30 Receive a cash dividend on stock 40 per share and preferred stock of5050 pershare. December 31 The fair values of the common and preferred shares are se2.00and respectively. Required: 1. Record each of these investment transactions. (Hint: stock ransactions are recorded lke common stock transactions, but prefered stock has no voting rights and therefore ownership provides no influence) (f no entry is required for a transaction event, select "No journal entry required" first account field.) view transaction view general journal Journal Entry worksheet 0000 Record the purchase of common stock. January 02 Investments MacBook Pro