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Required information Problem 10-6A (Algo) Record equity transactions and prepare the stockholders' equity section (LO10-2, 103,104,105,107) [The following information applies to the questions displayed below.] 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 $51 por share. February 14 Issue 41 , 000 shares of preferred stock for $12 per thare. Hey \& Purchase 11,090 shares of Its oun combon stock for \$41 per share. May 31 Resell 5,500 shares of treasury stock for $46 pee share. Decenber 1 Declare a cash dividend on Its conson stock of 30.30 per share and a $24, 6ee (6K of par value) cash dividend on its preferred stock payable to al1 stockolders of record on pecenber 15. The dividend is payable on December 30 . (Hint: Dividends are not paid on treasury itock,) Decenber 39 Pay the cash dividends declared on Decenber 1. Record the issuance of 110,000 shares of common stock for $51 per share. Note: Enter debits before credits. Record the issuance of 41,000 shares of preferred stock for $12 per share. Note: Enter debits before credits. Journal entry worksheet Record the purchase of 11,000 shares of its own common stock for $41 per share. Note: Enter debits before credits. Journal entry worksheet Record the resale of 5,500 shares of treasury stock for $46 per share. Note: Enter debits before credits. Record the declaration of a cash dividend on its common stock of $0.30 per share and a $24,600 ( 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.) Note: Enter debits before credits. Record the entry on December 15 , the date of record. Note: Enter debits before credits. Journal entry worksheet