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Eastport inc was ciganized on June 5. Year 1. It was authorized to issue 400,000 shares of 510 par common stock and 35,000 shares of

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Eastport inc was ciganized on June 5. Year 1. It was authorized to issue 400,000 shares of 510 par common stock and 35,000 shares of 5 percent cumulative ciass 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 17,000 shares of cormmon stock for $15 per share. 2. Issued 8,000 shares of the class A preferred stock for $30 per shore. 3. Issued 57,000 shares of comamon stock for $18 per share. Required Prepare the stockholders' equity section of the balance sheet immedlately after these transactions have been recognized

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