The following transactions affected the stockholders' equity accounts of Wellsburgh Co. in November 2012. Nov. 2 Issued 1,800 share of $ 1 par Value common stock in exchange for equipment valued at $82,000. Nov.3 Purchased 8,400 shares of its own stock at $44 per share. Nov. 8 Declared a $22,000 cash dividend payable on November 30th. Nov. 12 Sold 2,400 of its treasury shares at $48 cash per share. Nov.22 Sold 2,800 of its treasury shares at $40 cash per share. Nov. 30 Paid the dividend declared on November 8th. Wellsburgh Co.'s net income was $80,400 in November, While the balance in its retained earnings account was $422,400 on November 1st. Required: 1. Prepared the journal entries to record each of the transactions in November 2012. 2. Prepared a statement of retained earnings for the month ending November 2012.