Exercise 11-9A (Algo) Recording and reporting common and preferred stock transactions LO 11-4 Eastport Incorporated was organized on June 5, Year 1. It was authorized to Issue 350,000 shares of $9 par common stock and 40,000 shares of 5 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 Incorporated: a. Issued 24,000 shares of common stock for $14 per share. b. Issued 10,000 shares of the class A preferred stock for $30 per share. c. Issued 51,000 shares of common stock for $17 per share. Required Prepare the stockholders' equity section of the balance sheet Immediately after these transactions