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.

Required:

Prepare journal entries to record each transaction.

Prepare the stockholders' equity section of the balance sheet at December $31.$