Cornerstone Exercise 10-30 (Algorithmic) Treasury Stock A corporation purchases 1,690 shares of treasury stock for $5 per share. Enter your answers as positive numbers. Required: 1. How will this transaction affect stockholders' equity? If there is no effect, choose "No effect" and enter zero ("0"). by $ 2. How will this transaction affect net income? If there is no effect, choose "No effect" and enter zero ("0"). by $