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Eastport Incorporated was organized on June 5, Year 1. It was authorized to issue 450,000...

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Accounting

Eastport Incorporated was organized on June 5, Year 1. It was authorized to issue 450,000 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 Incorporated:
a. Issued 17,000 shares of common stock for $16 per share.
b. Issued 13,000 shares of the class A preferred stock for $30 per share.
c. Issued 58,000 shares of common stock for $19 per share.
Required
Prepare the stockholders' equity section of the balance sheet immediately afterthese transactions.
\table[[EASTPORT INCORPORATED],[Balance Sheet (partial)],[Stockholders' Equity,],[Common stock,],[Preferred stock,],[,],[,],[,],[Total Paid-In Capital,],[,],[Total stockholders' equity,]]
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