Graded Homework 0 Sarved Help Save Exercise 8-7 Recording and reporting common and preferred stock transactions LO 8-3 Eastport Inc. was organized on June 5, 2018. It was authorized to issue 350,000 shares of $12 par common stock and 40,000 shares of 5 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 Inc.: 1. Issued 23,000 shares of common stock for $17 per share. 2. Issued 9,000 shares of the class A preferred stock for $25 per share. 3. Issued 52,000 shares of common stock for $20 per share. Required: Prepare the stockholders' equity section of the balance sheet immediately after these transactions have been recognized. EASTPORT INC. Balance Sheet (partial) For the Year Ended 2018 Stockholders' Equity Prev 1 of 9 Next > 3. Issued 52,000 shares of common stock for $20 per share. Required: Prepare the stockholders' equity section of the balance sheet immediately after these transactions have EASTPORT INC. Balance Sheet (partial) For the Year Ended 2018 Stockholders' Equity Total Paid-In Capital Total stockholders' equity Prey 1 of 9 Next >