AlM Inc. showed the following equity account balances on the December 31, 2019, balance sheet: During 2020, 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. 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$6.90, 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 AlM 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.) Journal entry worksheet 45 Record the retirement of shares. Note: Enter debits before credits. b. Prepare the equity section on the December 31,2020 , balance sheet