Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 350,000 shares of $11 par common stock and 55,000 shares of 4 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 22,000 shares of common stock for $16 per share. 2. Issued 12,000 shares of the class A preferred stock for $30 per share. 3. Issued 49,000 shares of common stock for $19 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.) Credit No Event 11 Answer is complete but not entirely correct. General Journal Cash Common stock Paid-in capital in excess of par, CS Debit 180,000 X 150,000 44,000 360,000 Cash Common stock Paid-in capital in excess of par, CS 300,000 12,000 Cash 931,000 Common stock Paid-in capital in excess of par, CS 539,000 245,000 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 $ 245,000 781,000 301,000 X Total stockholders' equity 1.327.000