Just need problem 10-5A (Static) Part 2

2. prepare the statement of stockholders equity for the year ended December 31, 2024.

Required information Problem 10-6A (Static) Record equity transactions and prepare the stockholders' equity section (LO10-2, 103,104,105,107) [The following information applies to the questions displayed below.] Major League Apparel has two classes of stock authorized: 6%,$10 par preferred, and $1 par value common, The following transactions affect stockholders' equity during 2024 , its first year of operations: January 2 Insue 110,000 whares of common atock for $70 per share, Pobruary 14 Iesue 60,000 tharen of preferred atook for $12 per thare. May 0 Purehase 11,000 thares of its own contmon atoek for $60 per ahare. May 31 Henel1 5,500 sharen of treasury stock for $65 per share. Decenber I Declare a cash dividend on its common stook of $0.25 per share and a $36,000 (6t of par value) cash dividend on its preferred stoek payable to all stockholdera of record on December 15, The dividend is payable on December 30. (Hintt Dividends are not paid on treasury atock.) December 30 Pay the cash dividends declared on Decenber 1. Required: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the fi account field.) 2. Prepare the stockholders' equity section of the balance sheet as of December 31,2024 . Net income for the year was $490,000. (Amounts to be deducted should be indicated by a minus sign.) 2. Prepare the statement of stockholders' equity for the year ended December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.)