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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 $300,000 of net income and the following selected transactions occurred in the order given:

a.	Issued 120,000 shares of the common stock at $45 cash per share.
b.	Reacquired 15,000 shares at $40 cash per share.
c.	Reissued 5,000 shares from treasury for $41 per share.
d.	Reissued 5,000 shares from treasury for $39 per share.

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