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Nicole has been financing Nicole's Getaway Spa $($NGS$)$ using equity financing.

Currently NGS has authorized $100,000$ no$-$par preferred shares and $200,000$$$2$ par

common shares. Outstanding shares include $44,000$ preferred shares and $34,000$

common shares.

Recently the following transactions have taken place.

a$.$ NGS issues $700$ preferred shares for $$11$ a share.

b$.$ NGS repurchases $700$ common shares for $$10$ a share.

c$.$ On November $12,$ the board of directors declares a $$0\mathrm{.}20$ cash dividend on each

outstanding preferred share.

d$.$ The dividend is paid December $20.$

How would each transaction affect the ROE ratio? $($Use $+$ for increase, $-$ for decrease, and NE for

no effect.$)$