Little 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 $2$ Issue $110,000$ shares of common stock for $$54$ per share.

February $14$ Issue $44,000$ shares of preferred stock for $$12$ per share.

May $8$ Purchase $11,000$ shares of its own common stock for $$44$ per share.

May $31$ Resell $5,500$ shares of treasury stock for $$49$ per share.

December $1$ Declare a cash dividend on its common stock of $$0\mathrm{.}45$ per share and a $$26,400(6\%$ of par value$)$ cash dividend on its preferred stock payable to all stockholders of record on December $15.$ The dividend is payable on December $30.($Hint: Dividends are not paid on treasury stock.$)$

December $30$ Pay the cash dividends declared on December$1.1.$Record the issuance of $110,000$ shares of common stock for $$54$ per share.

$2.$Record the issuance of $44,000$ shares of preferred stock for $$12$ per share.

$3.$Record the purchase of $11,000$ shares of its own common stock for $$44$ per share.

$4.$Record the resale of $5,500$ shares of treasury stock for $$49$ per share.

$5.$Record the declaration of a cash dividend on its common stock of $$0\mathrm{.}45$ per share and a $$26,400(6\%$ of par value$)$ cash dividend on its preferred stock payable to all stockholders. The dividend is payable on December $30.($Hint: Dividends are not paid on treasury stock.$)$

$6.$Record the entry on December $15,$ the date of record.

$7.$Record the payment of the cash dividends declared on December $1.$