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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 earned $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. d. Relssued 11,000 shares from treasury for $51 per share. . Prepare journal 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 Record the issuance of 120,000 shares of common stock with a $5 par value for a price of 557 per share. hopel finter Gebits belore preditt