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 operations: January 2 Issue 120,000 shares of common stock for $56 per share. February 14 Issue 46,000 shares of preferred stock for $13 per share. May 8 Purchase 12,000 shares of its own common stock for $46 per share. May 31 Resell 6,000 shares of treasury stock for $51 per share. December 1 Declare a cash dividend on its common stock of $0.70 per share and a $18,400 (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. Required: Determine the financial statement effects of each of these transactions 2024. Complete this question by entering your answers in the tabs below