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 $450, 000 of net income and the following selected transactions occurred in the order given: a. Issued 120, 000 shares of the common stock at $60 cash per share. b. Reacquired 30, 000 shares at $55 cash per share. c. Reissued 12, 500 shares from treasury for $56 per share. d. Reissued 12, 500 shares from treasury for $54 per share. Required: 1. Indicate the account, amount, and direction of the effect on above transaction. (Enter any decreases to account balances with a minus sign.)