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Global Marine obtained a charter from the state in January that authorized shares of common stock, $ par value. During the first year, the company earned $ of net income and declared no dividends; the following selected transactions occurred in the order given:
Issued shares of the common stock at $ cash per share.
Reacquired shares at $ cash per share.
Reissued shares from treasury for $ per share.
Reissued shares from treasury for $ per share.
Required:
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.
