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 $330,000 of net income and the following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $48 cash per share. b. Reacquired 18,000 shares at $43 cash per share. c. Reissued 6,500 shares from treasury for $44 per share. d. Reissued 6,500 shares from treasury for $42 per share References section break PA11-1 Analyzing Accounting Equation Effects Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions [LO 11-2 value: 0.37 points Requ PA11-1 Part 1 Required 1. Indicate the account, amount, and direction of the effect on above transaction. (Enter any decreases to account balances with a minus sign.) Assets Stockholders' Equity Stock Liabilities a. Cash 5,760,000 600,000 5,160,000 Additional Paid-in Capital, Common Stock C. d