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Question 1 of 4 -/25 On December 31, 2020, Ivanhoe Corporation had the following shareholders' equity accounts: IVANHOE CORPORATION Balance Sheet (partial) December 31, 2020 Shareholders' equity Common shares (unlimited number of shares authorized, 87.000 issued) Retained earnings Total shareholders' equity $1.193,000 530,000 $1.723,000 During the year, the following transactions occurred: Jan. 15 July 1 Dec 15 Declared a $1 per share cash dividend to shareholders of record on January 31, payable February 15, Announced a 2-for-1 stock split. The market price per share on the date of the announcement was $12. Declared a 10% stock dividend to shareholders of record on December 3p. distributable on January 15.On December 15, the market price of each share was $6; on December 30, $7; and on January 15, $6. Determined that profit before income tax for the year was $466,000. The company has a 25% income tax rate 31 Question 1 of 4 -/25 Enter the beginning balances from the December 31, 2020, partial balance sheet. Post the entries in part (a) to the shareholders' equity accounts. (Note:Open additional shareholders' equity accounts as needed.) Common Shares Date Explanation Ref. Debit Credit Balance Jan. 1 Balance Stock Dividends Distributable Date Explanation Ref. Debit Credit Balance Dec. 15 J1 Cash Dividends-Common Debit Credit Date Explanation Ref. Balance Jan 15 J1 Dec 31 Closing entry J1 Stock Dividends Date Explanation Ref. Debit Credit Balance Sun Question 1 of 4 - /25 ili Dec. 31 Closing entry J1 Stock Dividends Date Explanation Ref. Debit Credit Balance Dec. 15 J1 Dec 31 Closing entry J1 Retained Earnings Date Explanation Ref. Debit Credit Balance Jan 1 Balance Dec 31 Closing entry J1 Dec. 31 Closing entry J1 eTextbook and Media List of Accounts Setor Cater Attempts:0 of 5 used Submit Answer 40C Sunny oc@