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.] Golf Apparel has two classes of stock authorized: 5%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: Jantury 2 Issue 100,000 shares of common stock for $58 per share. February 14 Issue 48 , 00e shares of preferred stock for $11 per share. May 8 Purchase 10.000 shares of its own common stock for $48 per share. May 31 Reselt 5,000 shares of treasury stock for $53 per share. December 1 Declare a cash dividend on its common stock of $0.60 per share and a $24,000 ( 5 r of par value) cash dividend on its preferred stock payable to ali 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 Decenber 1. Problem 10-6A (Algo) Part 2 2. Prepare the stockholders' equity section of the balance sheet as of December 31, 2024. Net income for the year was $478,000. Amounts to be deducted should be indicated by a minus sign.) (Amounts to be deducted should be indicated by a minus sign.)