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Required information [The following information applies to the questions displayed below] 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 eamed $420,000 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 $57 cash per share. b. Reacquired 27,000 shares at $52 cash per share. c. Reissued 11,000 shares from treasury for $53 per share. a. Reissued 11,000 shares from treasury for 551 per share. Requiredt 1. Indicate the account, amount, and direction of the effect on above transaction. (Lnter any decreases to Assets, Llabilities and Stockholders' Equity with a minus sign.)