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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
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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