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View transaction list View journal entry worksheet X Transaction Credit No 1 Debit 6,160,000 General Journal Cash Common Stock Additional Paid-In Capital, Common Stock 550,000 5,610,000 N b 1,326,000 Treasury Stock Cash 1,326,000 3 Cash 546,000 Treasury Stock Additional Paid-In Capital, Treasury Stock 535,000 11,000 4 d Cash Additional Paid-In Capital, Treasury Stock Treasury Stock 525,000 10,500 535,500 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 $410,000 of net income and declared no dividends; the following selected transactions occurred in the order given: a. Issued 110,000 shares of the common stock at $56 cash per share. b. Reacquired 26,000 shares at $51 cash per share. C. Reissued 10,500 shares from treasury for $52 per share. d. Reissued 10,500 shares from treasury for $50 per share. 3. Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) GLOBAL MARINE Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Common Stock Additional Paid-In Capital, Common Stock 0 Total Contributed Capital Retained Earnings Total 0 Less: Treasury Stock, at cost Total Stockholders' Equity $ 0