Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 400,000 shares of $10 par common stock and 45,000 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 18,000 shares of common stock for $15 per share.
2. Issued 8,000 shares of the class A preferred stock for $30 per share.
3. Issued 50,000 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.