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 $320,000 of net income and declared no dividends; the following selected transactions occurred in the order given: a. Issued 100,000 shares of the common stock at $47 cash per share. b. Reacquired 17,000 shares at $42 cash per share. c. Reissued 6,000 shares from treasury for $43 per share. d. Reissued 6,000 shares from treasury for $41 per share. 1 2 3 4 Record the issuance of 100,000 shares of common stock with a $5 par value for a price of $47 per share. Note: Enter debits before credits. Transaction a General Journal Debit Credit < 1 2 3 Record the purchase of 17,000 shares of previously issued common stock for a price of $42 per share. Note: Enter debits before credits. Transaction b General Journal Debit Credit > 1 2 3 4 Record the re-issuance of 6,000 shares of treasury stock previously purchased for a price of $42 per share and sold for $43 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit > 1 2 3 4 Record the re-issuance of 6,000 shares of treasury stock previously purchased for $42 per share and sold for $41 per share. Note: Enter debits before credits. Transaction d General Journal Debit Credit ! 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 $320,000 of net income and declared no dividends; the following selected transactions occurred in the order given: a. Issued 100,000 shares of the common stock at $47 cash per share. b. Reacquired 17,000 shares at $42 cash per share. c. Reissued 6,000 shares from treasury for $43 per share. d. Reissued 6,000 shares from treasury for $41 per share. 3. Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) Contributed Capital: GLOBAL MARINE Balance Sheet (Partial) At December 31 Stockholders' Equity Total Contributed Capital Total 0 0 Total Stockholders' Equity $ 0