What effect does the issuance of stock at a price above par value have on the issuer's net income?

Answer 1

Income from selling stock has no direct effect on net income. It could have an indirect effect -- if, for example, it is invested in securities that pay interest.

The value raised increases assets by adding to cash and increases Shareholder's Equity.

Answer 2

Nothing. Everything dealing with a share issuance effects shareholder's equity.