Anka Company begins the month of November with $12,000 in cash and $12,000 in contributed capital. Record the following transactions for the month of November, in financial statement effects template below, for Anka Company. Then, total the accounts and prepare an income statement and balance sheet for November.

a. The owner invests additional $20,000 cash in the business. b. The company purchases inventory for $4,000 on credit. c. The company sells all the inventory for $8,000 on account. d. The company collects $1,000 of the accounts receivable. e. Employees earn $1,200, to be paid next month. f. The company pays dividends of $800.