ducation.com/oxmpmx.lt a Saved He Eastport Inc. was organized on June 5, Year 1. It was authorized to Issue 340,000 shares of $11 par common stock and 70,000 shares of 5 percent cumulative class A preferred stock. The class A stock had a stated value of $25 per share. The following stock transactions pertain to Eastport Inc.: 1. Issued 16,000 shares of common stock for $16 per share. 2. Issued 9,000 shares of the class A preferred stock for $30 per share. 3. Issued 50,000 shares of common stock for $19 per share. Required Prepare the stockholders' equity section of the balance sheet immediately after these transactions have been recognized. EASTPORT INC. Balance Sheet partial) For the Year Endud Year 1 Stockholders Equity Common stock Preferred stock Paid-in capital in excess of par, CS Pald-in capital in excess of SV. PS $ 0 Total Peid in Capital Retained rings Total stockholders equity $ 0