Required information [The following information applies to the questions displayed below] Litte League Apparel has two classes of stock authorized: 6%,$10 par preferred, and $1 par value common. The foliowing transactions affect stockholders' equity during 2024, its first year of operations: January 2 Tosue 110,000 thares of common stoek for $54 per ahare. Februnry 14 Issue 44,000 tharea of preferred atoek tor $12 per whare. May 8 Purehase 11,000 tharea of its own contion atoek for $44 per obare. ray 31 Resel1 5,500 shares of treasury stook for $49 per share. Decenber 1 Declare a cash dividend on its connon stock of 50,45 per share and a $26,400 (61 of par value) cash dividend on its preferred atoek payable to a11 ntnokholderi of record on becenber 15. The dividend in payable on pecenber 30. (Mintr bividends are not paid on treasury atoek.) Decerber 30 pay the caoh dividends declated on oecexber 1 . 2. Prepare the stockholders' equity section of the balance sheet as of De (Amounts to be deducted should be indicated by a minus sign.) Required information [The following information applies to the questions displayed below] Litte League Apparel has two classes of stock authorized: 6%,$10 par preferred, and $1 par value common. The foliowing transactions affect stockholders' equity during 2024, its first year of operations: January 2 Tosue 110,000 thares of common stoek for $54 per ahare. Februnry 14 Issue 44,000 tharea of preferred atoek tor $12 per whare. May 8 Purehase 11,000 tharea of its own contion atoek for $44 per obare. ray 31 Resel1 5,500 shares of treasury stook for $49 per share. Decenber 1 Declare a cash dividend on its connon stock of 50,45 per share and a $26,400 (61 of par value) cash dividend on its preferred atoek payable to a11 ntnokholderi of record on becenber 15. The dividend in payable on pecenber 30. (Mintr bividends are not paid on treasury atoek.) Decerber 30 pay the caoh dividends declated on oecexber 1 . 2. Prepare the stockholders' equity section of the balance sheet as of De (Amounts to be deducted should be indicated by a minus sign.)