Eastport Inc. was organized on June 5, 2018. It was authorized to issue 400,000 shares of $9 par common stock and 60,000 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 $14 per share.
2. Issued 10,000 shares of the class A preferred stock for $35 per share.
3. Issued 40,000 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.