12. Hulse Company had the following transactions pertaining to stock investments. Feb. July Sept. Dec. 1 1 Purchased 600 shares of Wade common stock (2%) for $7,200 cash Received cash dividends of $1 per share on Wade common stock. Sold 300 shares of Wade common stock for $4,300. Received cash dividends of $1 per share on Wade common stock Instructions (a) Journalize the transactions. (b) Explain how dividend revenue and the gain (loss) on sale should be reported in the income statement