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Answer each scenario a-d with one of the choices below:  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? The treasury stock purchased in the above question was resold by Chen, Inc. 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? Please answer each letter with the following choices No effect Decrease Increase

Make sure you put the appropriate letter with your choice so I will know which one you are referring to.