Major League Apparel has two classes of stock authorized 5% $30 per prefered, and $t par value common The following transactions affect stockholders' equity during 2021, its first year of operations January 2 Issue 100,000 shares of commos stack for $5 per share February 14 Issue 3,000 shares of preferred stock for $12 May May Purchase 10,000 shares of its in con stack for $48 per share 31 sell 5,000 shares of treasury stock for $53 per share. December 1 Declare a cash dividend on its common stack dividend on its preferred stock payable to all stackhalders of record on December 15 the and is payable on December 30. (ber Dividends are not paid in treasury stock.) December 30 Pay the cash dividends declared a December 1. 2. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021. Net income for the year w$475.000 (Amounts to be deducted should be indicated by a minus sign.) MAJOR LEAGUE APPAREL Balance Sheet Stockholders' Equity Sections December 31, 2021 Stockholders' Equity Check my work Tital Padin Capital Total Stockholders Egaty