Return to question 1 Required information {The following information applies to the questions displayed below) Part 1 of 3 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: 0.83 points a. Issued 110,000 shares of the common stock at $59 cash per share. b. Reacquired 29,000 shares at $54 cash per share. c. Reissued 12,000 shares from treasury for $55 per share. d. Reissued 12,000 shares from treasury for $53 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.) Answer is not complete. Assets Llabilities . Cash = 0 + 0 0+ + a. = b. Cash c 6,490,000 0 o (1.566,000) = 660,000 0 = 636,000= 0 = Stockholders' E ' Common Stock Additional Paid-In Capital, Co Treasury Stock Treasury Stock Additional Paid-In Capital, Tre Treasury Stock Additional Paid-In Capital, Tri Cash + 0 0+ 0+ 0+ 0+ 0+ C. d. Cash = d. = Return to question 1 estions displayed below. Part 1 of 3 tate in January that authorized 1,000,000 shares of common stock. $5 par rned $440,000 of net income and declared no dividends; the following given: 0.83 points ock at $59 cash per share. $ er share. $55 per share $53 per share. $ he effect on above transaction. (Enter any decreases to Assets, Liabilities and x Answer is not complete. Liabilities = els = + 190.000 0 0 66,000) = 360.000- 0 0- 136,000E + 0+ 0 0+ 0+ 0 0+ O 0 0 0 + Stockholders' Equity Common Stock Additional Paid-in Capital, Common Stock Treasury Stock Treasury Stock Additional Paid-In Capital, Treasury Stock Treasury Stock Additional Paid-In Capital, Treasury Stock 6,000,000 X 490,000 (1.566.000) 600.000 X 60,000 X = SOOS + 0