1. Record the relevant transactions in the general joirnal.

2.Prepare the shareholders' equity section of the Balance sheet as at December 31 2020.

The Balance Sheet of POF Ltd. on 31 December 2019 showed the following shareholders' equity: Shareholders' Equity ($) 200,000 ordinary 180,000 shares, fully paid Retained earnings 70,000 250,000 During 2020, POF Ltd. completed the following selected transactions: Jan. 16 Declared a share dividend of 10% of the issued shares. The average market price of the shares is $0.80 per share. The date of the record is 31 January, and the payment date is 15 February. Feb. Issued the share dividend. 15 Aug. Split the ordinary shares 2 for 1, noting the 10 number of issued shares after this. Dec. Closed off Income Summary (recording a profit of 31 150,000); declared a cash dividend of $0.15 per share; and transferred $25,000 to General Reserve