Pequired information The following informatow apples to the questions dsplayed bolow] Global Marine obtahed a charter from the state in January that authonzed 1,000,000 shares of common stock. 35 par value. During the first year, the company earned $400,000 of net income and declared no divdends; the following selected transoctions occurred in the order oven a. issued 100,000 shares of the common steck at $55 cash per share b. Peacqulred 25,000 shares of $50 cesh per shate c. Resssued 10,000 shares from trestury for $51 per share. d. Relssued 10,000 shares from trescury for 549 per share Aequired: 1. Indicate the account, amount, and direction of the effect on above wansaction (finter any decreaces to Assets, Labinties and Stockholders' Fquity with a mens stign) Required information [The following information applies to the questions displayed below] Global Marne 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 $400,000 of net income and declared no dividends, the following selected transactions occurred in the order given: a. Issued 100,000 shares of the common stock at $55 cash per share b. Reacquired 25,000 shares at $50 cash per share. c. Relssued 10,000 shares from treasury for $51 per share. d. Relssued 10,000 shares from treasury for $49 per share. 2. Prepare joumal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field) Journal entry worksheet 3 1 (1) Record the issuance of 100,000 shares of cornmon stock with a $5 par value for a price of $55 per share. 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 earned $400,000 of net income and declared no dividends; the following selected transactions occurred in the order given: a. Issued 100,000 shares of the common stock at $55 cash per share b. Reacquired 25,000 shares at $50 cash per share c. Retssued 10,000 shares from treasury for $51 per share. d. Relssued 10,000 shares from treasury for $49 per share. 3. Prepare the stockholders' equity section of the balance sheet at December 31 . (Amounts to be deducted should be indicated by minus sign.)