Global Marine obtained a charter from the state in January 2013, which authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $300,000 of net income 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.

Required:

1.

Indicating the account, amount, and direction of the effect (+ for increase and ? for decrease) for the above transaction. (Enter all amounts as positive values.)

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.)

3.	Prepare the stockholders