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Required information Problem 10-6B Record equity transactions and prepare the stockholders' equity section (L010-2, 10-3,...

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Required information Problem 10-6B Record equity transactions and prepare the stockholders' equity section (L010-2, 10-3, 10- 4, 10-5, 10-7) [The following information applies to the questions displayed below.) National League Gear has two classes of stock authorized: 4%, $20 par preferred, and $5 par value common. The following transactions affect stockholders' equity during 2021, National League's first year of operations: Tebruary 2 Tenue 1.5 million shares of common stock for $35 per share. Yebruary 4 Issue 600,000 shares of preferred stock for $23 per share. June 15 Purchase 150,000 shares of its own common stock for $30 per share. August 15 Renell 112,500 shares of treanury stock for $45 per share. November 1 Declare a cash dividend on its common stock of $1.50 per share and a $480,000 (45 of par value) cash dividend on its preferred stock payable to all stockholders of record on November 15. (intt Dividends are not paid on treasury stock.) November 30 Pay the dividends declared on November 1. Problem 10-6B Part 1 Required: 1. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 5

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