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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

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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 eamed $340,000 of net income and declared no dividends; the following selected transactions occurred in the order giver a. Issued 110,000 shares of the common stock at $49 cash per share. b. Reacquired 19,000 shares at $44 cash per share. c Reissued 7.000 shares from treasury for $45 per share d Reissued 7,000 shares from treasury for $43 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.) a a Assets Liabities Stockholders' Equity

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