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 $390,000 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 $54 cash per share. b. Reacquired 24,000 shares at $49 cash per share. c. Reissued 9,500 shares from treasury for $50 per share. d. Reissued 9,500 shares from treasury for $48 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.) * Answer is complete but not entirely correct. Assets Liabilities a. Cash 5,500,000 X = + a. + b. Cash = + |(1,250,000) X 510,000 X = Stockholders' Equity Common Stock Additional Paid-In Capital, Common Stock Treasury Stock Treasury Stock Additional Paid-In Capital, Treasury Stock Treasury Stock Additional Paid-In Capital, Treasury Stock C. Cash + 500,000 & 5,000,000 X (1,250,000) 500,000 10,000 X 500,000 X (10,000) X + d. Cash 490,000 X = +