Which of the following is false regarding the treatment of treasury stock on a firm's financial statement?

a. The cost method is the preferred method of accounting for treasury stock transactions by firms

b. Treasury stock reduces a firm's reported total stockholders' equity

c. Treasury stock is considered "reissued" only when the reissue price is above the repurchase price

d. The gains or losses from treasury stock transactions will not affect net income under both cost method and par value (legal) method.