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Eastport Inc. was organized on June 5. Year 1. It was authorized to issue 450.000 shares of $9 par common stock and 70,000 shares of

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Eastport Inc. was organized on June 5. Year 1. It was authorized to issue 450.000 shares of $9 par common stock and 70,000 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 24,000 shares of common stock for $14 per share 2. Issued 15,000 shares of the class A preferred stock for $30 per share 3. Issued 60,000 shares of common stock for $17 per share. Required a. Prepare general journal entries for these transactions. (If no ent required" In the first account field.) for a transaction/ev No lournal entry View transaction list Journal entry worksheet Issued 24,000 shares of common stock per share Noter Enterditis before create Event General Journal Desene TILL RE b. Prepare the stockholders' equity section of the balance sheet immediately after these transactic Stockholders' equity Total stockholders equity

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