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 $$480,000$ of net income and declared no dividends; the following

selected transactions occurred in the order given:

a$.$ Issued $120,000$ shares of the common stock at $$63$ cash per share.

b$.$ Reacquired $33,000$ shares at $$58$ cash per share.

c$.$ Reissued $14,000$ shares from treasury for $$59$ per share.

d$.$ Reissued $14,000$ shares from treasury for $$57$ per share.

Prepare the stockholders' equity section of the balance sheet at December $31.($Amounts to be deducted should be indicated by a

minus sign.$)$