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 $440,000 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 $59 cash per share. b. Reacquired 29,000 shares at $54 cash per share. c. Reissued 12,000 shares from treasury for $55 per share. d. Reissued 12,000 shares from treasury for $53 per share. PA11-1 (Algo) Part 2 2. 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.) View transaction list X tock for a 1 Record the issuance of 110,000 shares of common stock with a $5 par value for a price of $59 per share. 2 Record the purchase of 29,000 shares of previously issued common stock for a price of $54 per share. Record the re-issuance of 12,000 shares of treasury stock previously purchased for a price of $54 per share and sold for $55 per share. 4 Record the re-issuance of 12,000 shares of treasury stock previously purchased for $54 per share and sold for $53 per share. Credit