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Eastport inc was organized on June 5, Year 1. It was authorized to issue 360,000 shares of $10 par common stock and 25,000 share of

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Eastport inc was organized on June 5, Year 1. It was authorized to issue 360,000 shares of $10 par common stock and 25,000 share of 5 percent cumulative class A preferred stock. The class A stock had a stated value of $25 per share. The following stock transactons pertain to Eastport inc. 1. 1554ed24,000 shares of common stock for $15 per share. 2. Issued 14,000 shares of the class A preferred stock for $30 per shate 3. Issued 47,000 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

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