please help with accounting question and step by step solution if possible. thank you..

The Leverenz Company issued 10,000 shares of $10 par common stock. Sale price was $25 per share. Leverenz then: Purchased 2,000 shares at $35 per share. Resold 800 of the shares at $38 per share. Resold 500 of the shares at $30 per share. No other stock transactions occurred Retained Earnings was$20,000 prior to these transactions. What is the combined effect of Transactions #1through #3 on NetIncomeand AdditionalPaid-in Capital from Treasury Stock, respectively? Select one: $0, $0 $0, $24, 500 decrease $100 decrease, $24, 600 decrease $100 increase, $45, 400 increase $100 increase, $24, 500 decrease Treasury stock was acquired for cash at more than its par value, and then subsequently sold for an amount more than the acquisition price There were no other Treasury Stock transactions in the history of the company. Assuming that the cost method of accounting for treasury stock transactions is used, what is the effect of the Purchase of Treasury Stock and the Sale of Treasury Stock, respectively, on Retained Earnings? Select one: No Effect, No Effect No Effect, Increase Decrease, Increase Decrease, No Effect No Effect, Decrease