AIM Inc. showed the following equity account balances on the December 31, 2022, balance sheet:

Common shares, unlimited authorized shares, 746,400 shares issued and outstanding$6,269,760Retained earnings 2,321,700

During 2023, the following selected transactions occurred:

Feb.10 Repurchased and retired 143,700 common shares at $10.00 per share; this is the first retirement recorded by AIM.May15 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 $6.90, and $6.40, respectively. 20 Distributed the share dividend declared December 1. 31 Closed the credit balance of $955,662 in the Income Summary account.

Required: a. Journalize the transactions above (assuming the retirements were the first ever recorded by AIM Inc.). The company does not use a share dividends account. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b. Prepare the equity section on the December 31, 2023, balance sheet.