National League Gear has two classes of stock authorized: 6%, $20 par preferred, and $5 par value common. The following transactions affect stockholders equity during 2024, National Leagues first year of operations:

February 2	Issue 1.3 million shares of common stock for $17 per share.
February 4	Issue 420,000 shares of preferred stock for $22 per share.
June 15	Purchase 130,000 shares of its own common stock for $12 per share.
August 15	Resell 97,500 shares of treasury stock for $27 per share.
November 1	Declare a cash dividend on its common stock of $1.30 per share and a $504,000 (6% of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.)
November 30	Pay the dividends declared on November 1.

Record the issuance of 1.3 million shares of common stock for $17 per share.

Record the issuance of 420,000 shares of preferred stock for $22 per share.

Record the purchase of 130,000 shares of its own common stock for $12 per share.

Record the resale of 97,500 shares of treasury stock for $27 per share.

Record the declaration of a cash dividend on its common stock of $1.30 per share and a $504,000 (6% of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.)

Record the payment of the dividends declared on November 1.