CDecky won of 2 Required information [The following information applies to the questions displayed below! red Major League Apparel has two classes of stock authorized 6%, 510 par preferred, and 31 par value common The following transactions affect stockholders equity during 2021, its first year of operations January 2 Issue 110,00 shares of common stock for 567 per share February 14 Issue 57,000 shares of preferred stock for 512 per sbare May Purchase 11,000 shares of its ou connon stock for $57 per share Hay 31 Resell 5.500 shares of treasury stock for $62 per share. December 1 Declare a cash dividend on its common stock of $0.40 per share and $14,200 ( of par valve) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 20. (Hint: Dividends are not paid on treasury stock) December 9 Pw the cash dividends declared on December 1 BOOK im 2. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021. Net Income for the year was $487000 (Amounts to be deducted should be indicated by a minus sign) MAJOR LEAGUE APREL Balance Sheet (Stockholder uity Section