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Make stockholder equity section of balance sheet immediately

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Eastport Inc. was organized on June 5, 2018. It was authorized to issue 360,000 shares of $11 par common stock and 65,000 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 23,000 shares of common stock for $16 per share.
  2. Issued 6,000 shares of the class A preferred stock for $30 per share. 
  3. Issued 49,000 shares of common stock for $19 per share.

Required:

Problem 1: Make Stockholders' equity section of the balance sheet immediately after these transactions have been recognized.

Reference no: EM132662127

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