AIM Inc. showed the following equity account balances on the December 31, 2019, balance sheet: Common shares, unlimited authorized shares, 890,000 shares issued and outstanding $7,209,000 2,190,200 Retained earnings During 2020, the following selected transactions occurred: Feb. 10 Repurchased and retired 156,200 common shares at $10.00 per share; this is the first retirement recorded by AIM. May 15 Declared a 2:1 share split to shareholders of record on June 1, distributable June 15. Dec. 1 Declared a 10% share dividend to shareholders of record on December 10, distributable December 20. The market prices of the shares on December 1, December 10, and December 20 were $6.00 $6.70, and $5.00, respectively. 20 Distributed the share dividend declared December 1. 31 Closed the credit balance of $1,027,010 in the Income Summary account. X Answer is not complete. Note Disclosure Note disclosure not required 0 Date February 10, 2020 May 15, 2020 December 01, 2020 December 20, 2020 December 31, 2020 0 Note disclosure required Note disclosure not required Note disclosure not required Note disclosure not required 0 b. Prepare the equity section on the December 31, 2020, balance sheet. Answer is not complete. AIM INC. Equity Section of Balance Sheet December 31, 2020 Contributed capital: Common shares, unlimited shares authorized, 1,614,360 shares issued and outstanding Retained earnings Total equity Amount 2,039,870 2,039,870