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 $370,000 of net income, declared no dividends, and the following selected transactions occurred in the order given a. Issued 110,000 shares of the common stock at $52 cash per share. 6. Reacquired 22,000 shares at $47 cash per share c. Reissued 8,500 shares from treasury for $48 per share, d. Reissued 8.500 shares from treasury for $46 per share PA11-1 Part 3 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 Total Contributed Capital Total Total Stockholders' Equity