The following transactions affect stockholders equity during 2015, National Leagues first year of operations: February 2 Issue 1.4 million shares of common stock for $21 per share. February 4 Issue 460,000 shares of preferred stock for $24 per share. June 15 Repurchase 140,000 shares of its own common stock for $16 per share. August 15 Reissue 105,000 shares of treasury stock for $31 per share. November 1 Declare a cash dividend on its common stock of $1.40 per share and a $460,000 (5% of par value) cash dividend on its preferred stock payable to all stockholders on record on November 15. (Hint: Dividends are not paid on treasury stock.) November 30 Pay the dividends declared on November 1. 17. value: 0.69 points Required information Prepare the stockholders equity section of the balance sheet as of December 31, 2015. Net income for the year was $4,760,000