Eastport Inc. was organized on June $5,$ Year $1.$ It was authorized to issue $310,000$ shares of $$9$ par common stock and $55,000$ 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.:

Issued $16,000$ shares of common stock for $$14$ per share.

Issued $13,000$ shares of the class A preferred stock for $$35$ per share.

Issued $47,000$ 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.