ed Homework Help Save & Exit S Check my wo 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 $380,000 of net income, declared no dividends, and the following selected transactions occurred in the order given a. Issued 100,000 shares of the common stock at $53 cash per share b. Reacquired 23,000 shares at $48 cash per share. c Reissued 9,000 shares from treasury for $49 per share d. Reissued 9,000 shares from treasury for $47 per share Required: 1. Indicate the account, amount, and direction of the effect on above transaction. (Enter Stockholders' Equity with a minus sign.) y decreases to Assets, Liabilities and Llabilitie Stockholders' Equity Prev 1 2 3 of 5 Next > e here to search