Required information [The following information applies 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: February 2 Insue 1.3 milition aharen of common atoek for $21 per ahaze. Tebruary 4 Iasue 530,000 shares of preferred stock tor $22 per share. June 15 Purchase 130,000 shares of 1 ta own conen atoek for $23 per share. Auguat 15 Hese11 97,500 nharen of treasury atoek for s38 per share. November 1 Deolare a cash dividend on ita commen atock of $1,30 per ahare and a $636,000(60 of par value) canh dividend on its preferred stock payable to all ntockholderi of record on November 15. (Hint: Dividends are not paid on treasury atoek. November 30Pay the dividends declared on November 1 . requarter: 1. Record each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)