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Problem $10-6$A $($Algo$)$ Record equity transactions and prepare the stockholders' equity section $($LO$10-2,10-3,10-4,10-5,10-7$

$[$The following information applies to the questions displayed below$]$

Golf Apparel has two classes of stock authorized: $4\%,$ $$10$ par preferred, and $$1$ par value common. The following transactions affect stockholders' equity during $2024,$ its first year of operations:

January $2$ Issue $120,000$ shares of comnon stock for $$62$ per share.

February $14$ Issue $52,090$ shares of preferred stock for $$13$ per share.

May $8,$ Purchase $12,000$ shares of its own camon stock for $$52$ per share.

May $31$ Resell $6,000$ shares of treasury stock for $$57$ per share.

December $1$ Declare a cash dividend on its common stock of $$0,60$ per share and a $$20,800(4\%$ of par value$)$ cash dividend on its preferred stock. payable to all stockholders of record on Decenber $15.$ The dividend is payable on December $30.($Hint: Dividends are not paid on treasury stock.$)$

December $30$ Pay the cash dividends declared on Decenber $1.$

please help with December $1$

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