The treasury stock purchased in Question 13 is resold by Luz, Inc. for $13,000. What effect does

Question:

The treasury stock purchased in Question 13 is resold by Luz, Inc. for $13,000. 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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