Eastport Incorporated was organized on June 5, Year 1. It was authorized to issue 340,000 shares of $10 par common stock and 55,000 shares of 4 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 Incorporated: 1. Issued 21,000 shares of common stock for $15 per share. 2. Issued 15,000 shares of the class A preferred stock for $25 per share. 3. Issued 54,000 shares of common stock for $18 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.