major league apparel has two classes of stock authorized 5% $10 par preferred and one dollar par value common prepare the stockholders equity section of the balance sheet as of December 31, 2021

Required information The following information applies to the questions displayed below) Major League Apparel has two classes of stock authorized: 5%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021. its first year of operations MAY January 2 Issue 100,000 shares of common stock for $63 per share. February 14 Issue 33,000 shares of preferred stock for $11 per share. Purchase 10.000 shares of our common stock or SS3 per here 31 Resell 5,000 shares of treasury stock tor 95 pe hare December 1 Declare a cash dividend on its common stock of 0.65 per share and 26,500 ( of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend 15 payable on December 30. (Hint: Dividends are not paid on tresury stock.) December 30 Pay the cash dividends declared on December 2. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021. Net Income for the year was $483,000 (Amounts to be deducted should be indicated by a minus sign.) MAJOR LEAGUE APPAREL Balance Sheet (Stockholders' Equity Section) December 31, 2021 Stockholders' Equity: Total Paid in Capital Total Stockholders Equity