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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. Relssued 11,500 shares from treasury for $54 per share. d. Reissued 11,500 shates from treasury for $52 per share. PA11-1 (Algo) Part 2 2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the issuance of 100,000 shares of common stock with a $5 par value for a price of $58 per share. Note: Enter debits before credits. Journal entry worksheet 34 Record the purchase of 28,000 shares of previously issued common stock for a price of $53 per share. Note: Enter debits before credits. Journal entry worksheet Record the re-issuance of 11,500 shares of treasury stock previously purchased for a price of $53 per share and sold for $54 per share. Note: Enter debits before credits. Journal entry worksheet 2 Record the re-issuance of 11,500 shares of treasury stock previously purchased for $53 per share and sold for $52 per share. Note: Enter debits before credits. 3. Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.)