Gabriel Company views share buybacks as treasury stock. In its first treasury stock transaction, Gabriel purchased treasury stock for more than the price at which the stock was originally issued. What is the effect of the purchase of the treasury stock on each of the following? a) paid in capital decrease / retained earnings decrease b) paid in capital decrease / retained earnings no effeect c) paid in capital no effect / retained earnings no effeect d) paid in capital no effect / retained earnings decrease
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