The Leverenz Company issued 10,000 shares of $10 par common stock. Sale price was $25 per share. Leverenz then:

1. Purchased 2,000 shares at $35 per share

2. Resold 800 of the shares at $38 per share

3. Resold 500 of the shares at $30 per share. No other stock transactions occurred. Retained Earnings was $20,000 prior to these transactions. What is the combined effect of Transactions #1 through #3 on Net Income and Total Stockholders' Equity, respectively?

Select one:

a.$0, $0

b.$0, $24,600 decrease

c.$100 decrease, $24,600 decrease

d.$100 increase, $45,400 increase

e.$100 increase, $24,500 decrease