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please make a journal entry for each date listed in the question Required information [The following information applies to the questions displayed below] National League
please make a journal entry for each date listed in the question Required information [The following information applies to the questions displayed below] 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, Notional League's first year of operations: February 2 Issue 1, million shares of comon stock for $25 per share. February 4 Issue 500,000 shares of preferred stock for $22 per share. June 15 Purchase 100 , nee shares of its own common stock for $2 per share. August 15 Alesell 75,0e0 shares of treasury stock for $35 per share. Novenber 1 Declare a cash dividend on its comon stock of $1. ee per share and a $6e0, eee (6x of par value) cash dividend on its preferred stock payable to all stockholders of record on fiovenber 15. (Hint; Oividends are not paid on treatury stock.) Novenber 39 Pay the dividends declared on Novenber 1. Required: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account fleld.) 2. Prepare the stockholders' equity section of the balance sheet as of December 31,2024 . Net income for the year was $4,800,000 (Amounts to be deducted should be indicated by a minus sign.)
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