$[$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, $$5$ par value. During the first year, the company earned $$440,000$ of net income and declared no dividends; the following selected transactions occurred in the order given:

Issued $110,000$ shares of the common stock at $$59$ cash per share.

Reacquired $29,000$ shares at $$54$ cash per share.

Reissued $12,000$ shares from treasury for $$55$ per share.

Reissued $12,000$ shares from treasury for $$53$ per share.

$3.$ Prepare the stockholders$$ equity section of the balance sheet at December $31.($Amounts to be deducted should be indicated by a minus sign.$)$