Required information The following information applies to the questions displayed below The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 570 shares of the company's own common stock at $37 cash per share; the stock is now held in treasury July 15 Issued 185 of the shares purchased on February 1 for $47 cash per share. Sept. 1 Issued 145 more of the shares purchased on February 1 for $32 cash per share 4 What impact does the reissuance of treasury stock for an amount higher than the purchase price have on net income? e reissuance of treasury stock for more or less than its original repurchase cost affect net income. The transaction affects only accounts