accounting---Treasury stock

The stockholders equity category of Bradford Company's balance sheet on January 1, 2007, appears as follows:
-Common stock, $10 par, 10,000 shares issued and
outstanding----------------------------------------------------$100,000 -Additional paid-in-capital-----------------------------------------$50,000 -Retained earnings-------------------------------------------------$80,000
The following transactions occurred during 2007:
a. Reacquired 2,000 shares of common stock at $20 per shares on July 1. b. Reacquired 400 shares of common stock at $18 per share on August 1.
Required:
1. Determine the effect on the accounting equation of the events. 2. Assume the company resold the shares of treasury stock at $28 per shares on October 1. Did the company benefit from the treasury stock transaction? If so, where is the "gain" presented on the balance sheet?
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