eRequired Information Problem 10-6B (Algo) Record equity transactions and prepare the stockholders' equity section (L010-2, 10-3, 10-4, 10-5, 10-7) [The following information applies to the questions displayed below.] National League Gear has two classes of stock authorized: 6%, $20 par preferred, and $5 par value common. The following transactions affect stockholders' equity during 2024, National League's first year of operations: February 2 Issue 1.3 million shares of common stock for $17 per share. February 4 Issue 420,000 shares of preferred stock for $22 per share. Purchase 130,000 shares of its own common stock for $12 per share. Resell 97,500 shares of treasury stock for $27 per share Declare a cash dividend on its common stock of $1.30 per share and a $504,000 (6% of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.) November 30 Pay the dividends declared on November 1. June 15 August 15 November 1 Problem 10-6B (Algo) Part

Required Informetion Problem 10-6B (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] National League Gear has two classes of stock authorized: 6%,$20 par preferred, and $5 par value common. The following transactions affect stockholders' equity during 2024, National League's first year of operations: February 2 Issue 1.3 ndilion shares of coenon stock for $17 per share. February 4 Issue 420,000 stares of preferred stock for $22 per share. August is Resel1 97,500 shares of treasury. stock for $27 per share. dividend on its preferred stock payable to aLl stockholders of record on Nowenber 15. (Mint: Dividends are not paid on treasury stock.) Novenber 30 pay the dividends declared on November 1. Problem 10-68 (Algo) Part 1 X Answer is not complete. 1 of 2 \begin{tabular}{|c|c|c|c|c|c|} \hline No & Date & Gener & & Debit & Credin \\ \hline \multirow[t]{3}{*}{1} & February 02, 2024 & Cash & 0 & 22,100,0000 & \\ \hline & & Common Stock & 0 & & 1,300,000 \\ \hline & & Additional Paid-In Captal & & & 208,000,000% \\ \hline \multirow[t]{4}{*}{2} & February 04, 2024 & 4 Carsh & 0 & 9.240,0000 & \\ \hline & & Preferred Stock & 0 & & 4.200,000x \\ \hline & & Additional Pad-In Capital & 0 & & 5,040,000 \\ \hline & & & - & & \\ \hline \multirow[t]{2}{*}{3} & June 15,2024 & Treasury Stock & 0 & 1,560.0000 & \\ \hline & & Cash & 0 & & 1,580,0000 \\ \hline \multirow[t]{3}{*}{4} & August 15,2024 & Cash & 0 & 2,032,5000 & \\ \hline & & Treasury Stock & 0 & & 1,170,0000 \\ \hline & & Additional Paid in Capital & 0 & & 1,402,5000 \\ \hline \multirow[t]{2}{*}{5} & Novernber 01, 202 & 12) Dividends & & 2.151 .7500 & \\ \hline & & Dividends Payable & 3 & & 2,151,750 \\ \hline 6 & Nowember 30,202 & 02 No Joumal Entry Required & & & \\ \hline \end{tabular} 2. Prepare the stockholders' equity section of the balance sheet as of December 31, 2024. Net income for the year was $4,720,000. (Amounts to be deducted should be indicated by a minus sign.)