Can you please explain to me why there is a debit to Retained Earnings $60,000.

12. On January 1, 2011, Southwestern Corporation had 1,000,000 shares of $1 par common stock outstanding. In the year 2011, the company completed the treasury stock transactions listed below. February 2: Purchased 70,000 shares at $12 per share. March 9: Sold 20,000 shares at $14 per share. May 17: Sold 25,000 shares at $8 per share. The transaction on May 17 will: A. Credit Cash $200,000 B. Credit Paid-in-Capital from Treasury Stock $40,000 C. Debit Retained Earnings $60,000 D. Debit Treasury Stock $300,000