Doulane Marine obtained a charter from the province in January 2017 that authorized 1,000,000 common shares. During the first year, the company earned $429,000 and the following selected transactions occurred in the order given: a. Issued 700,000 common shares at $54 cash per share b. Reacquired and cancelled 25,000 shares at $50 cash per share Required: 1. Indicate the effects of each transaction on the accounting equation. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Assets Liabilites Stockholder's Equity a. 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.) View transaction list Journal entry worksheet