Preferred stocks are referred to as preferred because they have preferences as to a dividends and voting rights Obdividends and assets at liquidation Oc dividends and par value Od assets at liquidation and voting rights When treasury shares are resold at a price above cost: O a. Retained earnings is always reduced. Ob. A loss is reported on the income statement O c. Paid-in capital -share repurchased is credited. O d. Paid-in capital -share repurchased is debited