2 rect or incorrect for the work you have completed so far. It does not indicate completion. Return to question The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31, 2010 Common shares, unlimited shares authorized, 20,200 shares $370,000 210,000 5588,000 issued and outstanding Retained earnings Total equity In 2020, Umi had the following transactions affecting shareholders and the equity accounts: 5 The directors declared a $3.40 per share cash dividend payable on Feb. 28 to the Feb. 5 shareholders of record. 28 Paid the dividend declared on January 5. Jan. Feb. July 6 Sold 850 common shares at $38.60 per share. 22 Sold 1,350 common shares at $27.40 per share. Aug. Sept. Oct. 5 The directors declared a $3.40 per share cash dividend payable on October 28 to the October 5 shareholders of record. 28 Paid the dividend declared on September 5. Dec. 31 Closed the $347,400 credit balance in the Income Summary account, 31 Closed the Cash Dividends account. Required: Prey 2 of 6 Next > , No Date General Journal 1 Jan 05, 2020 Cash dividends Common dividend payable 2 Feb 28, 2020 Common dividend payable Cash 3 Jul 06, 2020 Cash Common shares 4 Aug 22, 2020 Cash Common shares 5 Sep 05, 2020 Cash dividends Common dividend payable the work you have completed so far, It does not indicate completion Return to question Debit Credt 00 68.680 ( 58.600 O 68,680 68.000 00 00 00 32,810 32,810 36,990 36,990 68,680 68,680 Submis Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. 2 Common shares 5 Sep 05, 2020 Cash dividends 6 Oct 28, 2020 Common dividend payable Common dividend payable Cash 7 Dec 31, 2020 Income summary Retained earnings 8 Dec 31, 2020 Retained earnings Cash dividends 6 Return to question 36.900 68.680 68.680 O 00 00 68,680 68.680 346,000 34,800 346,000 34,600 2 10 points Balance, January 11 Issuance of shares. is correct or incorrect for the work you have completed so far. It does not indica Answer is not complete. UMI SUSTAINABLE SEAFOOD INC. Statement of Changes in Equity For Year Ended December 31, 2020 Common Shares $ Retained Earnings Total Equity 370,000 6 $ 218,000 $ 588,000 68,680 Profit Dividends Balance, December 31 $ 438,680 $ 218,000 $ 588,000 nce sheet as of December 31, 2020. (Enter all amounts as 2 oints Return to ques 3. Prepare the equity section of the corporation's balance sheet as of December 31, 2020. (Enter all amounts as positive values Contributed capital: Answer is not complete. UMI SUSTAINABLE SEAFOOD INC. Equity Section of the Balance Sheet December 31, 2020 Total equity Next $ 0