Required information Thit foltowing throritatrin applies to the questions displayed beiow] Uive teapue Apparel has two classes of stock authorized: 5%,$10 par preferred, and $1 par value common. The following transactions affed stockholders' equity during 2024, its first year of operations: Fetruary 14 Iswe 50,000 shares of prefered ateck for \$11 per share. Hay if Wurchase, 10,600 stures of its ewn comen staek for $50 per share. proble on Decenber 30. (Hinti bividends are not paif en treasury utock.) Required: 1. Record esch of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first secount field.) D 1 Record the issuance of 100,000 shares of common stock for $60 per share. 2 Record the issuance of 50,000 shares of preferred stock for $11 per share. 3 Record the purchase of 10,000 shares of its own common stock for $50 per share. 4 Record the resale of 5,000 shares of treasury stock for $55 per share. 5. Record the declaration of a cash dividend on its common stock of $0.50 per share and a $25,000(5% of par valuc) cash dividend on its preferred stock payable to all Note : = journal entry has been entered Required information stock for $50 per share. 4 Record the resale of 5,000 shares of treasury stock for $55 per share. 5 Record the declaration of a cash dividend on its common stock of $0.50 per share and a $25,000 ( 5% of par value) cash dividend on its preferred stock payable to all stockholders. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) 6 Record the entry on December 15 , the date of record. 7 Record the payment of the cash dividends declared on December 1. Note : = journal entry has been entered