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 $430,000 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 $58 cash per share. b. Reacquired 28,000 shares at $53 cash per share c. Reissued 11,500 shares from treasury for $54 per share. d. Reissued 11,500 shares from treasury for $52 per share. Required: 1. Indicate the account, amount, and direction of the effect on above transaction. (Enter any decreases to Assets, Liabilities and Stockholders' Equity with a minus sign.) a. a. b. C. Assets Liabilities < Prev 4 56 of 8 Next > Check my work Stockholders' Equi 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 $430,000 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 $58 cash per share. b. Reacquired 28,000 shares at $53 cash per share c. Reissued 11,500 shares from treasury for $54 per share. d. Reissued 11,500 shares from treasury for $52 per share. Required: 1. Indicate the account, amount, and direction of the effect on above transaction. (Enter any decreases to Assets, Liabilities and Stockholders' Equity with a minus sign.) a. a. b. C. Assets Liabilities < Prev 4 56 of 8 Next > Check my work Stockholders' Equi