PA11-1 (Algo) Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions (LO 11-2) The foliowing information applies to the questions displayed beiow] Global Marine obtained a charter from the state in Jastuary that authorized 1,000,000 shares of common stock, $5 par value. During the first yeat, the company earned $420,000 of net income and declared no dividends, the following selected transacbons occurted in the order glven: 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. Relssued 11,000 shares from tre osury for $53 per share d. Reissued 11,000 shares from treasury for $51 per share PA11-1 (Algo) Part 1 Required: 1. Indicate the account, amount and direction of the effect on above transaction. (Enter any decreases to Assets, Llabilities and Stockholders' Equity with a minus sign.)