Eastport Inc. was organized on June 5 , Year 1 . It was authorized to issue 310,000 shares of $9 par common stock and 25,000 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 21,000 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 51,000 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