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Exercise 1 1 - 9 A ( Algo ) Recording and reporting common and preferred stock transactions LO 1 1 - 4 Eastport Incorporated was
Exercise A Algo Recording and reporting common and preferred stock transactions LO
Eastport Incorporated was organized on June Year It was authorized to issue shares of $ par common stock and shares of percent cumulative class A preferred stock. The class A stock had a stated value of $ per share. The following stock transactions pertain to Eastport Incorporated:
a Issued shares of common stock for $ per share.
b Issued shares of the class A preferred stock for $ per share.
c Issued shares of common stock for $ per share.
Required
Prepare the stockholders' equity section of the balance sheet immediately after these transactions.
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