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Eastport Incoporated was organized on June 5 , Year 1 . It was authorized to issue 3 0 0 , 0 0 0 shares of

Eastport Incoporated was organized on June 5, Year 1. It was authorized to issue 300,000 shares of $10 par common stock and 50,000 shares of 5 percent cumulative class A preferred stock. The class A stock had a stated value of $50 per share. The following stock transactions pertain to Eastport Incoporated:
Issued 15,000 shares of common stock for $12 per share.
Issued 5,000 shares of the class A preferred stock for $51 per share.
Issued 60,000 shares of common stock for $15 per share.
Required
Prepare the stockholders equity section of the balance sheet immediately after these transactions have been recognized.

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