Little League Apparel has two classes of stock authorlzed: $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 $110,600$ shares of connon stock for $$54$ per share.

February $14$ Issue $44,069$ shares of preferred stock for $$12$ per share.

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

May $31$ Rese$115,500$ shares of treasury stock for $$49$ per share.

December $1$ Declare a cash dividend on its common stock of $$0\mathrm{.}45$ per share and a $$26,490(6\%$ of par value$)$ cash dividend on its

preferred stock payable to all stockholders of record on Decenber $15.$ The dividend is payable on Decenber $30.($Hint:

Dividends are not paid on treasury stock.$)$

Decenber $30$ pay the cash dividends declared on Decenber $1.$

Required:

Determine the financial statement effects of each of these transactions $2024.$

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Pay the cash dividends declared on December $1.$