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 $310,000 of net income, declared no dividends, and the following selected transactions occurred in the order given:

1. Issued 110,000 shares of the common stock at $46 cash per share.
2. Reacquired 16,000 shares at $41 cash per share.
3. Reissued 5,500 shares from treasury for $42 per share.
4. Reissued 5,500 shares from treasury for $40 per share.

Indicate the account, amount, and direction of the effect on above transaction.