QUESTION 38 Treasury stock is O A) a contra equity account OB) a contra asset account O ) a liability account D) an asset account QUESTION 39 Assume the following information for Western Sales, Inc Common Stock, 51.00 par, 232,000 shares issued, 185,000 shares outstanding Pald-in Capital in Excess of Par-Common $1,690,000 Retained Earnings: 52,460,000 Treasury Stock: 47.000 shares purchased at 517 per share of Western Sales purchases an additional 8000 shares of treasury stock at $20 per share, what number of shares will be shown as issued and outstanding OA) 185,000 issued; 185,000 outstanding O B) 224,000 issued; 185,000 outstanding OC) 232,000 issued: 177.000 outstanding D) 232,000 Issued: 185,000 outstanding QUESTION 40 The purchase of treasury stock A) decreases assets and stockholders' equity O B) increases assets and stockholders' equity C) increases assets and decreases stockholders' equity OD) decreases assets and increases stockholders' equity