Eastport Inc. was organized on June 5 , Year 1. It was authorized to issue 310,000 shares of $10 par common stock and 55,000 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.: 1. Issued 20,000 shares of common stock for $15 per share. 2. Issued 13,000 shares of the class A preferred stock for $30 per share. 3. Issued 51,000 shares of common stock for $18 per share. Required Prepare the stockholders' equity section of the balance sheet immediately after these transactions have been recognized. On May 1, Year 3, Love Corporation declared a $88,100 cash dividend to be paid on May 31 to shareholders of record on May 15. Required Record the events occurring on May 1 and May 31 in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave th cell blank. (Enter any decreases to account balances with a minus sign.)