sactions (LO 11-2] "lowing information applies to the questions displayed below.] Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 During the first year, the company earned $400,000 of net income, declared no dividends, and the following -d transactions occurred in the order given: ed 100,000 shares of the common stock at $55 cash per share. cquired 25,000 shares at $50 cash per share. -sued 10,000 shares from treasury for $51 per share. Esued 10,000 shares from treasury for $49 per share. rt 3 he stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indi- ) GLOBAL MARINE Balance Sheet (Partial) At December 31 Stockholders' Equity Capital: Contributed Capital