Required information [The following information appies 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, National League's first year of operations: Pebruary 2 Insue 1.3 million shores of comson atoek tor $20 per share. February 4 Insue 530,000 sharne of preterred stock for $22 per share. June is purchaat 136,000 sharen of its own cokmos atook for $23 per share. Augant 15: hesel1 97,500 shares of treasury stoek tor $38 per nhare. Movenber 1 Declare a cash dividend on its cormon stook of 51.30 per thare and a 5636,000 (6t of par value) cash dividend on ite preferred stock payable to all stockholdera of record on Hovenber 15. (Hint, Dividends are not paid on treasery atcokil Movember 30 Pay the dividend deelared on Rovember 1 . 2. Prepare the stockholders' equity section of the balance sheet as of December 31, 2024. Net income for the year was $4,830,000. Amounts to be deducted should be indleated by a minus sign.)