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Eastport Inc. was organized on June 5, Year 1. It was authorized to Issue 380,000 shares of $11 par common stock and 25,000 shares of

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Eastport Inc. was organized on June 5, Year 1. It was authorized to Issue 380,000 shares of $11 par common stock and 25,000 shares of 5 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 20,000 shares of common stock for $16 per share. 2. Issued 14,000 shares of the class A preferred stock for $25 per share. 3. Issued 43,000 shares of common stock for $19 per share. Required: Prepare the stockholders' equity section of the balance sheet immediately after these transactions. EASTPORT INC. Balance Sheet (partial For the Year Ended Year 1 Stockholders' Equity Total Pald-In Capital Total stockholders equity

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