Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 380,000 shares of $8 par common stock and 65,000 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 16,000 shares of common stock for $13 per share. 2. Issued 5,000 shares of the class A preferred stock for $30 per share. 3. Issued 51,000 shares of common stock for $16 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 Preferred stock Common stock Paid-in capital in excess of SV, PS Paid-in capital in excess of par, CS Retained earnings Total Paid-In Capital $ 0 Total stockholders' equity $ 0