AIM Inc. showed the following equity account balances on the December 31, 2019, balance sheet: Common shares, unlimited authorized shares, 818,000 shares issued and outstanding Retained earnings $5,971,400 1,973,200 During 2020, the following selected transactions occurred: Feb. 10 Repurchased and retired 157,200 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 $6.00, and $4.80, respectively. 20 Distributed the share dividend declared December 1. 31 closed the credit balance of $770,006 in the Income Summary account. X Answer is complete but not entirely correct. Date Note Disclosure Amount February 10, 2020 May 15, 2020 December 01, 2020 660,800 Note disclosure not required Note disclosure required Note disclosure not required Note disclosure not required Note disclosure not required December 20, 2020 December 31, 2020 b. Prepare the equity section on the December 31, 2020, balance sheet. AIM INC. Equity Section of Balance Sheet December 31, 2020 Contributed capital: Common shares, unlimited shares authorized, 1,453,760 shares issued and outstanding Retained earnings Total equity 0