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Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of...

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Accounting

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 $470,000 of net income and the following selected transactions occurred in the order given:
a. Issued 110,000 shares of the common stock at $62 cash per share.
b. Reacquired 32,000 shares at $57 cash per share.
c. Reissued 13,500 shares from treasury for $58 per share.
d.

Reissued 13,500 shares from treasury for $56 per share

Prepare the stockholders equity section of the balance sheet at December 31
GLOBAL MARINE
Balance Sheet (Partial)
At December 31
Stockholders Equity
Contributed Capital:
Total Contributed Capital 0
Total 0
Total Stockholders Equity $0

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