o 11-4 Exercise 11-9A Recording and reporting common and preferred stock transactions Eastport Inc, was organized on June 5, Year 1. It was authorized to issue 300,000 shares of $10 par common stock and 50,000 shares of S percent cumulative class A preferred stock. The class A stock had a stated value of $50 per share. The following stock transactioas pertain to Eastport Inc 1. Issued 15,000 shares of common stock for $12 per share 2. Issued 5,000 shares of the class A preferred stock for $51 per shane. 3. Issued 60,000 shares of common stock for S15 per share. Required Page 622 a. Prepare general journal eatries for these transactions b. Prepare the stockholders' equity section of the balance sheet inmedialely after these transactions Eastport Inc. General Journal Debit Credit Date 1. Cash Account Titles 180000 Common Stock 2. 3. b. Stockholders' Equity: Preferred Stock: Common Stock: Paid-in Capital in Exc. of SV, Preferred Stock Paid-in Capital in Exc. Of Par. Common Stock Retained Earnings Total Stockholder's Equity