Eastport Inc Was organized on June 5 , Year 1 It was authorized to issue 320,000 shares of $11 par common stock and 60,000 shares of 5 percent cumulative class A preferred stock The class A stock had a stated value of $20 per share The following stock transactions pertain to Eastport Inc 1 Issued 23,000 shares of common stock for $16 per share 2 Issued 10,000 shares of the class A preferred stock for $25 per share 3 Issued 57,000 shares of common stock for $19 per share Required Prepare the stockholders' equity section of the balance sheet immediately after these transactions

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Eastport Inc  Was organized on June 5 , Year 1  It was authorized to issue 320,000 shares of $11 par common stock and 60,000 shares of 5 percent cumulative class A preferred stock  The class A stock had a stated value of $20 per share  The following stock transactions pertain to Eastport Inc   1  Issued 23,000 shares of common stock for $16 per share  2  Issued 10,000 shares of the class A preferred stock for $25 per share  3  Issued 57,000 shares of common stock for $19 per share  Required  Prepare the stockholders' equity section of the balance sheet immediately after these transactions

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Eastport Inc. Was organized on June 5 , Year 1. It was authorized to issue 320,000 shares of $11 par common stock and 60,000 shares

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