Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 400,000 shares of $10 par common stock and 65,000 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 19,000 shares of common stock for $15 per share.
2. Issued 9,000 shares of the class A preferred stock for $25 per share.
3. Issued 44,000 shares of common stock for $18 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
Total Paid in capital
Total stockholders' equity