a)

b)

Eastport Incorporated was organized on June 5, Year 1. It was authorized to issue 430,000 shares of $9 par common stock and 55,000 shares of 4 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: 1. Issued 20,000 shares of common stock for $14 per share. 2. Issued 9,000 shares of the class A preferred stock for $35 per share. 3. Issued 46,000 shares of common stock for $17 per share. Required a. Prepare general journal entries for these transactions b. Prepare the stockholders' equity section of the balance sheet immediately after these transactions. Complete this question by entering your answers in the tabs below. Required Required B Prepare general Journal entries for these transactions. (If no entry is required for a transaction/event, select "No journal entry required In the first account field.) View transaction list Issued 20,000 shares of common stock for $14 per Complete this question by entering your answers in the tabs below. Required A Required B Prepare general journal entries for these transactions. (If no entry is required for a transaction/event, select "No in the first account field.) View transaction list X: A Issued 20,000 shares of common stock for $14 per share. Record the transaction. > B issued 9,000 shares of the class A preferred stock for $35 per share. Record the transaction. C Issued 46,000 shares of common stock for $17 per share. Record the transaction. Debit Credit Note Tournal entry has been entered by entering your answers in the tabs below. Required A Required B bok Prepare the stockholders' equity section of the balance sheet immediately after these transactions. nt Stockholders' equity Fint rences Total stockholders' equity