Eastport Inc. was organized on June 5, 2018. It was authorized to issue 370,000 shares of $11 par common stock and 70,000 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 16,000 shares of common stock for $16 per share.
2. Issued 13,000 shares of the class A preferred stock for $35 per share.
3. Issued 43,000 shares of common stock for $19 per share.