Required Informotion Probiem 10-6B (Algo) Record equity transactions and prepare the stockholders' equity section (LO10-2, 103,104,105,107) [The following information apolies to the questions disployed below] National Leogue Gear twas two dasses of stock authonzed 6\%, $20 par preferred, and $5 por value common. The following transoctions affect slockholders' equity during 2024, Nationai League's first yeor of operations: Fehruary 2 Istue 1,1 miltion shares of coemon stock for $17 pen shace. Winnter 10 edy the dividends declared on Movenber 1. Problem 10-68 (Algo) Port 1 Penilied: 1. Record each or these transactions. (ff no entry is required for o transoction/event, select "No Journal Entry Required" In the first iccount field, Required information Problem 10-6B (Algo) Record equity transactions and prepare the stockholders' equity section (LO10-2, 103,104,105,107) (The following information applies to the questions displayed below] Natiobal League Gear has two classes of stock authorized: 6%,$20 par preferred, and $5 par value common. The followng transactions affect stockhoiders' equity during 2024, National teague's first year of operations: Febryary 2 issue 1,3 nillion skares of consoe stock for $17 per share. fecirairy a Issue 420,000 shares of preferred stock for 322 per share. Tone is Purchase 130 , eee shares of its ow conmon stock for $12 per share. Augist is Resedi 97,500 shares of treasury stock for $27 per share. Eividend on its preferred stock payable to all stockholders of record on Novenber is. (Mint: Dividends are not pald on treatury stock+) novitier as Day the dividends declared on Novenber-1. Problem 10-68 (Algo) Part 2 2. Ptepare the stockhoiders equity section of the balance sheet as of December 31,2024 . Net income for the year was $4,720,000 (Amounts to be deducted should be Indicated by a minus sign.)