Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 460,000 shares of $8 par common stock and 45,000 shares of 5 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 16,000 shares of common stock for $13 per share.

2. Issued 5,000 shares of the class A preferred stock for $35 per share.

3. Issued 51,000 shares of common stock for $16 per share.

Prepare the stockholders equity section of the balance sheet immediately after these transactions have been recognized.

\begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ EASTPORT INC. } \\ \hline \multicolumn{2}{|c|}{ Balance Sheet (partial) } \\ \hline For the Year Ended Year 1 \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline Total Paid-In Capital & \\ \hline & \\ \hline Total stockholders' equity & \\ \hline \end{tabular}