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0 Required information {The following information applies to the questions displayed below.] Global Marine obtained a charter from the state in January that authorized 1,000,000

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0 Required information {The following information applies to the questions displayed below.] Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $490,000 of net income and declared no dividends: the following selected transactions occurred in the order given a. Issued 100,000 shares of the common stock at $64 cash per share, b. Reacquired 34,000 shares at $59 cash per share. c Reissued 14,500 shares from treasury for $60 per share. d. Relssued 14,500 shares from treasury for $58 per share. 3. Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) GLOBAL MARINE Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Total Contributed Capital 0 Total 0 Total Stockholders' Equity $ $ 0

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