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 $400,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 100,000 shares of the common stock at $55 cash per share b. Reacquired 25,000 shares at $50 cash per share. c Reissued 10,000 shares from treasury for $51 per share, d. Reissued 10,000 shares from treasury for $49 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.) 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.) Stockholders' Equity Limbinties Assets a b C d 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 $400,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: a Issued 100,000 shares of the common stock at $55 cash per share. b. Reacquired 25,000 shares at $50 cash per share. c Reissued 10,000 shares from treasury for $51 per share d. Reissued 10,000 shares from treasury for $49 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.) 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