Barry, Hank, and Babe form a company named Long Ball Investments, hoping to find that elusive home run stock. Anew clothing company by the name of Major League has has two classes of stock authorized: 5%, preferred and S1 par value common. Long Bal investments has following transactions the during the year. None of the investments are large enough to exert a significant influence. January 2 Purchase 1,000 shares of Major League common stock for $60 per share February 14 Purchase 500 shares of League preferred stock for $11.00 share. May 15 Sell 200 shares of Major League's common stock for $52 per share. December 30 Receive a cash dividend on Major Le per share and preserred stock of so 50 per share. December 31 The fair values of the common and preferred shares are S62.00 and $12.00, respectively. Required 1. Record each of investment transactions. (Hint: Prefemed stock transactions are recorded lke common stock transactions, but preferred stock has no voting rights and therefore ownership provides no influence. (if no entry is required for a select "No journal entry required" in the first account field.) view transaction list view general journal January 02 Investments May 15