[The following information applies to the questions displayed below.] Little League Apparel has two classes of stock authorized: 5\%, \$10 par preferred, and \$1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issue 100,000 shares of common stock for $66 per share. February 14 Issue 56,000 shares of preferred stock for $11 per share. May 8 Purchase 10,000 shares of its own common stock for $56 per share. May 31 Resell 5,000 shares of treasury stock for $61 per share. December 1 Declare a cash dividend on its common stock of $0.45 per share and a $28,000 ( 5% 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 information Record the issuance of 100,000 shares of common stock for $66 per share. Note: Enter debits before credits. Required information 3 7 Record the issuance of 56,000 shares of preferred stock for $11 per share. Note: Enter debits before credits. Required information Record the purchase of 10,000 shares of its own common stock for $56 per share. Note: Enter debits before credits. Required information Record the resale of 5,000 shares of treasury stock for $61 per share. Note: Enter debits before credits. equired information Record the declaration of a cash dividend on its common stock of $0.45 per share and a $28,000 ( 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.) Note: Enter debits before credits. Required information Record the entry on December 15, the date of record. Note: Enter debits before credits. Required information Record the payment of the cash dividends declared on December 1. Note: Enter debits before credits