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 $50,000 and declared no dividends; the following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $15 cash per share. b. Reacquired 4,200 shares at $16 cash per share to use as stock incentives for senior management. equired: Indicate the account, amount, and direction of the effect for the above transactions. (Enter any decreases to Assets, Liabilities and tockholders' Equity with a minus sign.)