Exercise $11-9$A $($Algo$)$ Recording and reporting common and preferred stock transactions LO $11-4$

Eastport Incorporated was organized on June $5,$ Year $1.$ It was authorized to issue $400,000$ shares of $$11$ par common stock and $45,000$ shares of $5$ percent cumulative class A preferred stock. The class A stock had a stated value of $$30$ per share. The following stock transactions pertain to Eastport Incorporated:

Issued $15,000$ shares of common stock for $$16$ per share.

Issued $10,000$ shares of the class A preferred stock for $$35$ per share.

Issued $52,000$ shares of common stock for $$19$ per share.

Required

Prepare the stockholders$$ equity section of the balance sheet immediately after these transactions.