Golf Apparel has two classes of stock authonzed: 4%.$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024. Its first year of operations: January 2 Issue 128,0e0 shares of comoon stock for 562 per share. february 14 issue 52 , e0e shares of preferred stock for 513 per share. May 8 Purchase 12,000 shares of its own comon stock for 552 per share. May 31 kesel1 6 , 00e shares of treasury stock for 557 per share. Decenber 1 Declare a cash dividend on its comon stock of 50.60 per share and a 520,360 ( 4x of par value) cash dividend on its preferred stock payable to all stockolders of record on Decenber 15. The dividend is payable on Decenber a0. (Hint: Dividends are not paid on treasury stock.) December 30 pay the cash dividends declared on Decenber 1. roblem 10-6A (Algo) Part 1 required: 1. Record eoch of these transactions. (If no entry is required for o transoction/event, select "No Journal Entry Required" In the first occount fleld.) Journal entry worksheet 2345667 Record the issuance of 120,000 shares of common stock for 562 per share. Wote Emer otbits before credits. Required Information Problem 10-6A (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] Golf Apparel has two classes of stock authorized: 4%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024 , its first year of operations January 2 Issue 120,600 shares of comon stock for 562 per share. february 14 Issue 52,000 shares of preferred stock for 313 per share. kay a purchase 12 , ee0 shares of its oun comon stock for $52 per share. May 31 Resell 6 , 0e0 shares of treasury stock for 557 per share. Decenbee 1 Declare a cash dividend on its comon stock of 50.60 per share and a 520, bee (45 of par value) cash dividend on its preferred stock payable to al1 stockholders of record on becenber 15. The dividend is payable on december 3e. (Hint: Dividends are not paid on treasury stock.) decenber 30 Pay the cash dividends declared on Decenber 1. Problem 10-6A (Algo) Part 2 2. Prepare the stockholders' equity section of the balance sheet as or December 31,2024 . Net income for the year was $482000. (Amounts to be deducted should be Indiceted by o minus sign.)