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O'Brien Industries paid $12 per share to acquire 1,000 of its common shares, which were originally issued for $15 each. Several months later the company

O'Brien Industries paid $12 per share to acquire 1,000 of its common shares, which were originally issued for $15 each. Several months later the company issued 1,000 common shares at a price of $15. What effect would these transactions have on common shares, contributed surplus, retained earnings, and total shareholders' equity?

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