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 befow/ Limle League Apparel has two ciasses of stock authorized. 6%,$10 por preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issue 110 , a0e shares of comaon stock for 154 per share. February 14 Tssue 44 , 000 shares of preferred stock for 512 , per share. May . Purchase 11, 0ee shares of its own conton stock for 344 per share. May 31 Resell 5.50e shares of treasury stock for $49 per share. Decenjer I Declare a cash dividend on its coenon stock of 50.45 jer share and a 326,400(64 at par yalue ) cash dividend on its preferred stock payable to all stockhotders af record on Decesber 15. The dividend is payable on December 3e. (Hint: Dividends are not patd an treasury stocik.l Decenteer 3e Pay the cash dividends declared on December 1. 2. Prepare the stockholders' equity section of the baiance sheet as of December 31, 2024, Net income for the year was 5474 . 000 ; (Amounts to be deducted should be indicated by a minus sign.)