Eastport Incorporated was organized on June $5,$ Year $1.$ It was authorized to issue $340,000$ shares of $$9$ par common stock and $45,000$ shares of $4$ percent cumulative class A preferred stock. The class A stock had a stated value of $$30$ per share. The following stock transactions pertain to Eastport Incorporated:

Issued $21,000$ shares of common stock for $$14$ per share.

Issued $8,000$ shares of the class A preferred stock for $$35$ per share.

Issued $57,000$ shares of common stock for $$17$ per share.

Required

a$.$ Prepare general journal entries for these transactions.

b$.$ Prepare the stockholders$$ equity section of the balance sheet immediately after these transactions.