! Required information (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 $300,000 of net income and declared no dividends; the following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $45 cash per share. b. Reacquired 15,000 shares at $40 cash per share. C. Reissued 5,000 shares from treasury for $41 per share. d. Reissued 5,000 shares from treasury for $39 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.) Assets = Liabilities + S a. = + a. + b. + + C. 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.) Assets Liabilities a. + + + a. = a b. c b. = + C. II = + C. d. II II II + + + d