Question 32 1 pts On March 1, Ward Corporation had 40,000 shares of 515 par value common stock issued and outstanding. All 40,000 shares had been issued in a prior period at $20.00 per share. On April 1, Ward purchased 4,000 shares of treasury stock for $25 per share and later sold the treasury shares for $22 per share on May 1. The journal entry to record the purchase of the treasury shares on April 1 would include a credit to a gain account for $120,000 debit to Treasury Stock for $100,000 credit to Treasury Stock for $100,000 debit to a loss account for S120,000