01:00:03 Exercise 11-9A (Algo) Recording and reporting common and preferred stock transactions LO 11-4 Eastport Incorporated was organized on June 5, Year 1. It was authorized to issue 490,000 shares of $10 par common stock and 40,000 shares of 5 percent cumulative class A preferred stock. The class A stock had a stated value of $30 per share. The following" stock transactions pertain to Eastport Incorporated: a. Issued 18,000 shares of common stock for $15 per share. b. Issued 10,000 shares of the class A preferred stock for $35 per share. c. Issued 53,000 shares of common stock for $18 per share. Required Prepare the stockholders' equity section of the balance sheet immediately after these transactions. Answer is not complete. EASTPORT INCORPORATED Balance Sheet (partial) For the Year Ended Year 1 Stockholders' Equity Common stock s 710.000 Paid-in capital in excess of par, CS Preferred stock 514,000 300,000 Paid-in capital in excess of SV, PS 50,000 Trial Dairin Mc Graw Return to question 2022.230 faltals -2022 230 fall view Shew A x