Exercise 2 Shelly Herzog opens a research service near a college campus. She names the corporation Herzog Researchers, Inc. During the first month of operations, July 20X3, the business engages in the following transactions: 1. Herzog Researchers, Inc., issues its common stock to Shelly Herzog, who invests $27,000 to open the business. 2. The company purchases on account office supplies costing $550. 3. Herzog Researchers pays cash of $25,000 to acquire a lot next to the campus. The company intends to use the land as a building site for a business office. 4. Herzog Researchers performs research for clients and receives cash of $2,300. 5. Herzog Researchers pays $200 on the account payable it created in transaction b. 6. Herzog pays $3,000 of personal funds for a vacation. 7. Herzog Researchers pays cash expenses for office rent ($500) and utilities ($300). 8. The business sells a small parcel of the land for its cost of $7,000. 9. The business declares and pays a cash dividend of $2,100. Prepare: 1-Accounting aquation 2-T-account 3-Journal 4-Ledger 5-Triel balance 6-The income statment .Statement of retained earnings, balance sheet