Common shares, unlimited shares authorized, 89,000 shares issued and outstanding Retained earnings $854,000 131,800 The company issued long-term debt during 2020 that requires a retained earnings restriction of $91,000. Share dividends declared but not distributed during 2020 totalled 8,900 shares capitalized for a total of $106,800. Required: a. Prepare a statement of changes in equity for the year ended December 31, 2020, assuming profit earned during the year was $134,300. (Negative answers should be indicated by a minus sign.) Balance, January 1 Answer is not complete. ICE INDUSTRIES INC. Statement of Changes in Equity For Year Ended December 31, 2020 Common Shares Common share dividend payable Profit Dividends Balance, December 31 Retained Earnings Total Equity S 854,000 $ 131,800 $ 985,800 (106,800) (106,800) 0 134,300 134,300 0 (91,000) x (91,000) x S 854,000 $ 68,300 $ 922,300 b. What is the maximum amount of dividends that the company can declare during 2021? Answer is complete but not entirely correct. Maximum dividends $ 96