Homework Help The following information applies to the questions displayed below! National League Gear has two classes of stock authorized: 4%. $20 por preferred, and $5 par value common. The following transactions affect stockholders' equity during 2021. National League's first year of operations February 2 Issue 1.1 million shares of common stock for $19 per share. February Issue 440,000 shares of preferred stock for $23 per share. June 15 Purchase 110.000 shares of its own common stock for $14 per share. August 15 Resell 82.500 shares of treasury stock for $29 per share. Novenber 1 Declare a cash dividend on its common stock of $1.10 per share and a $352, 4 of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: November 30 Pay the dividends declared on Novenber 1. 2. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021. Net Income for the year was $4.740,000. (Amounts to be deducted should be indicated by a minus sign) NATIONAL LEAQUE GEAR Balance Sheet Stockholders' Equity Section December 11, 2021 Stockholm quity Tolgan Total holders 5 o