Eastport Inc. was organized on June 5, 2018. It was authorized to issue 370,000 shares of $12 par common stock and 45,000 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 19,000 shares of common stock for $17 per share.
2. Issued 15,000 shares of the class A preferred stock for $30 per share.
3. Issued 42,000 shares of common stock for $20 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 Total stockholders' equity