Required information 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 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 $500,000 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 $65 cash per share. b. Reacquired 35,000 shares at $60 cash per share. c. Reissued 15,000 shares from treasury for $61 per share. d. Reissued 15,000 shares from treasury for $59 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, Liabilities and Stockholders' Equity with a minus sign.) a. a. b. C. C. d. d. Assets Liabilities + Stockholders' Equity