AIM Inc. showed the following equity account balances on the December $31,2019,$ balance sheet:

Common shares, unlimited authorized shares, $1,090,200$ shares issued and outstanding $ $7,740,420$

Retained earnings $2,332,300$

During $2020,$ the following selected transactions occurred:

Feb. $10$ Repurchased and retired $170,900$ common shares at $$10\mathrm{.}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 $$5\mathrm{.}00$ $$7\mathrm{.}40,$ and $$6\mathrm{.}40,$ respectively.

$20$ Distributed the share dividend declared December $1.$

$31$ Closed the credit balance of $$960,986$ in the Income Summary account.

required: prepare all journal entries and prepare the equity section on the balance sheet