Eastport Inc. was organized on June 5, 2018. It was authorized to issue 410,000 shares of $9 par common stock and 30,000 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 24,000 shares of common stock for $14 per share. 2. Issued 11,000 shares of the class A preferred stock for $30 per share. 3. Issued 46,000 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 Preferred stock Common stock Paid-in capital in excess of SV, PS Paid-in capital in excess of par, CS $ 275,000 Total Paid-In Capital $ 275,000 Total stockholders' equity $ 275,000