Required information PA11-1 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 $450,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: a, Issued 120,000 shares of the common stock at $60 cash per share. b. Reacquired 30,000 shares at $55 cash per share, c. Reissued 12,500 shares from treasury for $56 per share. d. Reissued 12,500 shares from treasury for $54 per share