Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par valu

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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 $460,000 of net income and declared no dividends; the following selected transactions occurred in the order given:
2. Prepare journal entries to record each transaction.
3. Prepare the stockholders' equity section of the balance sheet at D minus sign.) d. Reissued 13,000 shares from treasury for $55 per share. Contributed Capital: @2 2 Total Contributed Capital Total Total Stockholders' Equity GLOBAL MARINE Balance Sheet (Partial) At December 31 Stockholders' Equity W #3 20 E $ 4 R % 5 $ < Prev T 0 0 0 < 6 8m