(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 $310.000 of net income, declared no dividends, and the following selected transactions occurred in the order given a. Issued 110,000 shares of the common stock at $46 cash per share. b. Reacquired 16,000 shares at $41 cash per share. c. Reissued 5,500 shares from treasury for $42 per share d. Reissued 5,500 shares from treasury for $40 per share PA11-1 Part 3 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