Check my work Part 2 of 2 Required information PA11-1 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) points 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 $300,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $45 cash per share. b. Reacquired 15,000 shares at $40 cash per share. c. Reissued 5,000 shares from treasury for $41 per share. d Reissued 5,000 shares from treasury for $39 per share. References PA11-1 Part 3 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 $ Common Stock Additional Paid-In Capital Common Stock 600,000 4,800,000 3. Prepare the stockholders' equity section of the balance sheet at December 31, should be indicated by a minus sign.) GLOBAL MARINE Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Common Stock Additional Paid-In Capital, Common Stock $ 600,000 4.800,000 Total Contributed Capital 5,400,000 5,400,000 Retained Earnings Total IST Less: Treasury Stock, at cost Total Stockholders' Equity $ 5,400,000