Eastport Inc. was organized on June $5,$ Year $1.$ It was authorized to issue $340,000$ 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 $$25$ per share. The following stock

transactions pertain to Eastport Inc.:

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

Issued $12,000$ shares of the class A preferred stock for $$30$ per share.

Issued $47,000$ shares of common stock for $$19$ per share.

Required

Prepare the stockholders' equity section of the balance sheet immediately after these transactions have been recognized.