Eastport Inc. was organized on June 5, 2016. It was authorized to issue 500,000 shares of $8 par common stock and 35,000 shares of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $20 per share. The following stock transactions pertain to Eastport Inc.:

1.	Issued 21,000 shares of common stock for $13 per share.
2.	Issued 12,000 shares of the class A preferred stock for $25 per share.
3.	Issued 55,000 shares of common stock for $16 per share.
	a) Prepare general journal entries for these transactions b)Prepare the stockholders equity section of the balance sheet immediately after these transactions.