Tennis Apparel has two classes of stock authorized: 4%, $10 par preferred, and $1 par value common. The following transactions affect stockholders equity during 2024, its first year of operation

January 2	Issue 120,000 shares of common stock for $53 per share.
February 14	Issue 43,000 shares of preferred stock for $13 per share.
May 8	Purchase 12,000 shares of its own common stock for $43 per share.
May 31	Resell 6,000 shares of treasury stock for $48 per share.
December 1	Declare a cash dividend on its common stock of $0.40 per share and a $17,200 (4% of par value) cash dividend on its preferred stock payable to all stockholders 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.

Ancinor ic nnt rommlato Ancinor ic nnt rommlato