Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 400,000 shares of $12 par common stock and 45,000 shares of 4 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 16,000 shares of common stock for $17 per share. 2. Issued 12,000 shares of the class A preferred stock for $25 per share. 3. Issued 57,000 shares of common stock for $20 per share. Required a. Prepare general journal entries for these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Issued 16,000 shares of common stock for $17 per share. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal b. Prepare the stockholders' equity section of the balance sheet immediately after these transactions. Stockholders' equity Total stockholders' equity Journal entry worksheet Issued 57,000 shares of common stock for $20 per share. Note: Enter debits before credits. Event General Journal Debit Credit 3 Record entry Clear entry View general journal