Required information [The following information applies to the questions displayed below] Whyville Corporation obtained its charter from the state in January that authorized 500,000 shares of common stock, $1 par value. During the first year, the company earned $49,000 and declared no dividends; the following selected transactions occurred in the order given: a. Issued 110,000 shares of the common stock at $14 cash per share. b. Reacquired 4,100 shares at $15 cash per share to use as stock incentives for senior management. Required: 1. Indicate the account, amount, and direction of the effect for the above transactions. (Enter any decreases to Assets, Liabilities and Stockholders' Equity with a minus sign.) a Cash a Cash Assets 154,000 (61,500) Liabilities Stockholders' Equity Common Stock 110,000 Addoonal Paid-In Capital, Common Stock 143,000 Treasury Stock (61,500)