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 $470,000 of net income and the following selected transactions occurred in the order given:

a.	Issued 110,000 shares of the common stock at $62 cash per share.
b.	Reacquired 32,000 shares at $57 cash per share.
c.	Reissued 13,500 shares from treasury for $58 per share.
d.	Reissued 13,500 shares from treasury for $56 per share

Prepare the stockholders equity section of the balance sheet at December 31

GLOBAL MARINE
Balance Sheet (Partial)
At December 31
Stockholders Equity
Contributed Capital:
Total Contributed Capital	0
Total	0
Total Stockholders Equity	$0