accounting problem

Project Description:

chen, inc. purchases 1,000 shares of its own previously issued $5 per common stock for $12,000. assuming the shares are held in the treasury, what effect does this transaction have on (a) net income, (b) total assets, (c) total paid-in capital, and (d) total stockholders’ equity? chen, inc’s treasure stock is resold for $15,000. what effect does this transaction have on (a) net income, (b) total assets, (c) total paid-in capital, and (d) total stockholders’ equity?
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