[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 $310,000 of net income and the
following selected transactions occurred in the order given:
a. Issued 110,000 shares of the common stock at $46 cash per
share.
b. Reacquired 16,000 shares at $41 cash per share.
c. Reissued 5,500 shares from treasury for $42...