! Required information [The following information applies to the questions displayed below.) National League Gear has two classes of stock authorized: 4%, $20 par preferred, and $5 par value common. The following transactions affect stockholders' equity during 2021, National League's first year of operations: February 2 Issue 1.1 million shares of common stock for $19 per share. February 4 Issue 440,000 shares of preferred stock for $23 per share. June 15 Purchase 110,000 shares of its own common stock for $14 per share. August 15 Resell 82,500 shares of treasury stock for $29 per share. November 1 Declare a cash dividend on its common stock of $1.10 per share and a $352,000 (41 of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.) November 30 Pay the dividends declared on November 1. ! Required information [The following information applies to the questions displayed below.) National League Gear has two classes of stock authorized: 4%, $20 par preferred, and $5 par value common. The following transactions affect stockholders' equity during 2021, National League's first year of operations: February 2 Issue 1.1 million shares of common stock for $19 per share. February 4 Issue 440,000 shares of preferred stock for $23 per share. June 15 Purchase 110,000 shares of its own common stock for $14 per share. August 15 Resell 82,500 shares of treasury stock for $29 per share. November 1 Declare a cash dividend on its common stock of $1.10 per share and a $352,000 (41 of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (Hint: Dividends are not paid on treasury stock.) November 30 Pay the dividends declared on November 1