Tennis 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 common stock for $64 per share. Pebruary 14 issue 54,000 shares of preferred stock for $12 per share. May 8 Purchase 11,000 shares of its own common stock for $54 per share. May 31 Renel1 5,500 shares of treasury stoek for $59 per share. December 1 Declare a cash dividend on Its oommon stock of $0.70 per ahare and a $32,400(6) of par value) canh 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. Tennis 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 common stock for $64 per share. Pebruary 14 issue 54,000 shares of preferred stock for $12 per share. May 8 Purchase 11,000 shares of its own common stock for $54 per share. May 31 Renel1 5,500 shares of treasury stoek for $59 per share. December 1 Declare a cash dividend on Its oommon stock of $0.70 per ahare and a $32,400(6) of par value) canh 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