Required information [The following information applies to the questions displayed below.] Little 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: January 2 Issue 110,000 shares of eomnon Btock for $54 per share. rebruary 14 Issue 44,000 shares of preferred stock for $12 per share. May 8 Purchase 11,000 shares of its own coamon stock for $44 per share. May 31 Resell 5,500 shares of treasury stock for $49 per share. Decesber 1 Declare a cash dividend on its common stock of $0,45 per share and a $26,400 (6k of par value) eash dividend on its preferred stock payable to all stoekholders of record on December 15 . The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) December 30 pay the cash dividends declared on December 1 . LITTLE LEAGUE APPAREL Balance Sheet (Stockholders' Equity Section) 1 Required information