Required Information Major League Apparel has two classes of stock authorized 4%, $10 par preferred, and S1 par value common. The following transactions affect stockholders' equity during 2018, ts first year of operations January 2 Issue 120,000 shares of common stock for $68 per share February 14 Issue 58.000 shares of preferred stock for $13 per share May 8 Repurchase 12.000 shares of its own common stock for $58 per share May 31 Reissue 6.000 shares of treasury stockfor $63 per share December 1 Declare a cash dividend on its common S23.200 (4% of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on December 30 Hint Dividends are not paid on treasury stock) December 30 Pay the cash dividends declared on December 1 stock of $0.35 per share and a rast