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Major League Apparel has two classes of stock authorized: $6\%,$$$10$ par preferred, and $$1$

par value common. The following transactions affect stockholders' equity during $2024,$ its

first year of operations:

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

the year was $$490,000.($Amounts to be deducted should be indicated by a minus sign.$)$