Question: please help Q.13 Learning Objectives: - 3-11 Differentiate between common and preferred stock - 3-12 Show how issuing different classes of stock affects financial statements

please help Q.13
please help Q.13 Learning Objectives: - 3-11 Differentiate between common and preferred

Learning Objectives: - 3-11 Differentiate between common and preferred stock - 3-12 Show how issuing different classes of stock affects financial statements Eastport inc was organized on June 5, Year 1. It was authorized to issue 410,000 shares of $8 par common stock and 65,000 shares 5 percent cumulative class A preferred stock. The class A stock had a stated value or $20 per share. The following stock transactions pertain to Eastport lnc: 1. Issued 17,000 shares of common stock for $13 per share 2 Issued 14,000 shares of the class A preferred stock for $25 per share. 3. Issued 56.000 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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