PA11-1 Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions [La 11-2) The following information applies to the questions displayed belew) Global Marine obtained a charter fhom the state in January that authorined 1000,000 shares of common stock. 55 par value. During the first yex, the company eaned $350,000 of net incoe and the the order gven a Issued 100.000 shares of the common stock at $50 cash per share b. Reacqured 20000 shores at $45 cash per share c. Ressued 7500 shares from treasury for $46 per share d Retssued 7,500 shares fhom treasury for $44 per share section break PA11-1 Analyzing Accounting Equation Effects Recording Journel Entries, end Prepering Partiel Belance Sheet involving Stock Issuance end Purchese Transactions pO 11-2 26. 0.37 points PA11-1 Part 1 Required 1. Indicate the account, amount, and direction of the effect on above tansaction JEnter any decreases to account balances with a minss sign)