CarFind Inc. showed the following equity information at December 31, 2019. Common shares, unlimited shares authorized; 4,400,000 shares issued and outstanding Retained earnings $1,027,500 1,375,000 On April 1, 2020, 240,000 common shares were issued at $0.70 per share. On June 1, the board of directors declared a 5% share dividend to shareholders of record on June 15; the distribution date was July 1. The market prices of the shares on June 1, June 15, and July 1 were $2.78, $1.86, and $2.56, respectively. On December 11, the board of directors declared a 2:1 share split to shareholders of record on December 15; the distribution date was December 20. Profit earned during the year was $1,457,500. Required: Prepare the company's equity section on the December 31, 2020, balance sheet. Contributed capital: Total equity CARFIND INC. Equity Section of Balance Sheet December 31, 2020 $ 0