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3. Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) Required

image text in transcribedimage text in transcribed 3. Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) Required information PA11-1 (Algo) Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions [LO 11-2] [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 $430,000 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 $58 cash per share. b. Reacquired 28,000 shares at $53 cash per share. c. Reissued 11,500 shares from treasury for $54 per share. d. Reissued 11,500 shares from treasury for $52 per share. A11-1 (Algo) Part 3 Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a ninus sign.)

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