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Eastport Inc. was organized on June 5, 2018. It was authorized to issue 370,000 shares of $9 par common stock and 25,000 shares of 5

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Eastport Inc. was organized on June 5, 2018. It was authorized to issue 370,000 shares of $9 par common stock and 25,000 shares of 5 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 Inc.: 1. Issued 19,000 shares of common stock for $14 per share. 2. Issued 13,000 shares of the class A preferred stock for $35 per share. 3. Issued 56,000 shares of common stock for $17 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 Ended 2018 Stockholders' Equity Total Paid In Capital $ 0 Total stockholders' equity

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