Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 420,000 shares of $11 par common stock and 35,000 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 $16 per share. 2. Issued 15,000 shares of the class A preferred stock for $30 per share. 3. Issued 52,000 shares of common stock for $19 per share. Required Prepare the stockholders' equity section of the balance sheet immediately after these transactions have been recognized. EASTPORT INC. Balance Sheet (partial) For the Year Ended Year 1 Stockholders' Equity as Total Paid in Capital $ 0 Total stockholders' equity $ 0