Eastport Inc. was organized on June 5, Year 1. It was authorized to Issue 380,000 shares of $9 par common stock and 75,000 shares of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $30 per share. The following stock transactions pertain to Eastport Inc: 1. Issued 23,000 shares of common stock for $14 per share. 2. Issued 12,000 shares of the class A preferred stock for $35 per share. 3. Issued 56,000 shares of common stock for $17 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.) Answer is complete and correct. General Journal Event No 1 Credit 1 Debit 322.000 Cash Common stock Paid-in capital in excess of par CS OOO 207.000 115.000 2 2 420.000 Cash Preferred stock Paid in capital in excess of SV, PS 0. 360.000 60.000 3 3 952.000 Cash Common shock Pinances of par CS DO 504,000 448.000 b. Prepare the stockholders' equity section of the balance sheet immediately after these transactions. Answer is not complete. Stockholders' equity Common stock Preferred stock Paid-in capital in excess of par, CS Pald-in capital in excess of SV, PS OS Total stockholders' equity $ 0