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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 $2024,$

National League's first year of operations:

Prepare the stockholders' equity section of the balance sheet as of December $31,2024.$ Net income for

the year was $$4,900,000.($Amounts to be deducted should be indicated by a minus sign.$)$