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Eastport Inc. was organized on June 5. Year 1. It was authorized to issue 330,000 shares of $11 par common stock and 70,000 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 Inc.: 1. Issued 18,000 shares of common stock for $16 per share. 2. Issued 14,000 shares of the class A preferred stock for $30 per share. 3. Issued 40,000 shares of common stock for $19 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 Year 1 Stockholders' Equity Common stock Paid-in capital in excess of par, CS Preferred stock Paid.in capital in excess of SV. PS Total Paid-in Capital Total stockholders' equity For the Year Ended Year 1 Appropriated retained earnings Cash Common stock Dividends payable Land TOLOQ-ir capitan Total stockholders' equity MAR 4 F1 F2 F3 DOO DOO F4 EASTPORT INC. Balance Sheet (partial) For the Year Ended Year 1 Land Operating expenses Paid-in capital in excess of cost Paid-in capital in excess of War, CS Paid-in capital in excess of SV, CS TO - Total stockholders' equity Balance Sheet (partial) For the Year Ended Year 1 -II II excess o ov, CS Paid-in capital in excess of SV, PS Preferred stock Retained earnings Service revenue Treasury stock TOLL raiu-ill vapilar Total stockholders' equity