Arcus Development Inc.'s equity section on the December 31, 2022, balance sheet showed the following information: Common shares, unlimited shares authorized, 180,000 shares issued and outstanding Retained earnings $3,096,000 525,000 On January 15, 2023, the company's board of directors declared a 5% share dividend to the shareholders of record on January 20 to be distributed on January 30. The market prices of the shares on January 15, 20, and 30 were $19.80, $18.20, and $19.00, respectively. Required: 1. Prepare the required entries for January 15, 20, and 30, Assume share dividends account is used when dividends are declared. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the declaration of share dividends to common shareholders. Note: Enter debits before credits. Date General Journal Debit Credit Required: 1. Prepare the required entries for January 15, 20, and 30. Assume share dividends account is used when dividends are declared (f no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 Record the declaration of share dividends to common shareholders Note: Enter debits before credits Date January 15 2023 General Journal Debit Credit Record entry Clear entry 2. Prepare the equity section on the January 31, 2023, balance sheet, assuming profit earned during January 2023 was $605,000. Contributed capital Total equity ARCUS DEVELOPMENT INC. Equity Section of Balance Sheet January 31, 2023