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 $380,000 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 $53 cash per share. b. Reacquired 23,000 shares at $48 cash per share. c. Reissued 9,000 shares from treasury for $49 per share. d. Reissued 9,000 shares from treasury for $47 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.) Assets Liabilities Stockholders' Equity a. b. C. d. 2. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 4 Record the issuance of 100,000 shares of common stock with a $5 par value for a price of $53 per share. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal 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 Tota Total Stockholders' Equity