1. Prepare a statement of changes in equity for the year ended December 31,2020, assuming profit earned during the year was $1,005,000. 2. Prepare the equity section of the December 31,2020 , balance sheet.

On March 1, 2020, VisionTech Inc.'s board of directors declared a 15% share dividend when the market price per share was $8.00. On November 15, 2020, the board of directors declared a 4:1 share split. The equity section of the company's December 31, 2019, balance sheet showed: ed Common shares; 20,000,000 shares authorized; 3,900,000 shares issued and outstanding Retained earnings $ 24,570,000 4,615,000 ok nt Required: 1. Prepare a statement of changes in equity for the year ended December 31, 2020, assuming profit earned during the year was $1,005,000. (Amounts to be deducted should be indicated by a minus sign.) ences VISIONTECH INC. Statement of Changes in Equity For Year Ended December 31, 2020 Common Retained Shares Earnings Total Equity Balance, January 1 Balance, December 31