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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:

Issued $110,000$ shares of the common stock at $$59$ cash per share.

Reacquired $29,000$ shares at $$54$ cash per share.

Reissued $12,000$ shares from treasury for $$55$ per share.

Reissued $12,000$ shares from treasury for $$53$ per share.

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.$)$