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Eastport Incorporated was organized on June 5, Year 1. It was authorized to issue 500,000...

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Accounting

Eastport Incorporated was organized on June 5, Year 1. It was authorized to issue 500,000 shares of $8 par common stock and
55,000 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 :
Issued 20,000 shares of common stock for $13 per share.
Issued 10,000 shares of the class A preferred stock for $30 per share.
Issued 58,000 shares of common stock for $16 per share.
Required
Prepare the stockholders' equity section of the balance sheet immediately after these transactions have been recognized.
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