ces 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 $400,000 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 $55 cash per share. b. Reacquired 25,000 shares at $50 cash per share. c. Reissued 10,000 shares from treasury for $51 per share. d. Reissued 10,000 shares from treasury for $49 per share. 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 < 1 2 3 4 Record the issuance of 100,000 shares of common stock with a $5 par value for a price of $55 per share. Note: Enter debits before credits. Transaction a General Journal Debit Credit Record entry Clear entry View general Journal Journal CLIY WORKSITEL < 1 2 3 4 Record the purchase of 25,000 shares of previously issued common stock for a price of $50 per share. Note: Enter debits before credits. Transaction b General Journal Debit Credit Record entry Clear entry View general journal > ces Journal entry WorkSHEEL < 1 2 3 4 Record the re-issuance of 10,000 shares of treasury stock previously purchased for a price of $50 per share and sold for $51 per share. Note: Enter debits before credits. Transaction C General Journal Debit Credit Record entry Clear entry View general journal Journal entry Workshee < 1 2 3 Record the re-issuance of 10,000 shares of treasury stock previously purchased for $50 per share and sold for $49 per share. Note: Enter debits before credits. Transaction d General Journal Debit Credit Record entry Clear entry View general journal > 3. Prepare the stockholders' equity section of the balance sheet at December 31. (A minus sign.) Contributed Capital: GLOBAL MARINE Balance Sheet (Partial) At December 31 Stockholders' Equity Total Contributed Capital Total 0 0 Total Stockholders' Equity $ 0