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HELP ASAP PLEASE!!! The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31, 2022: In 2023, Umi had

HELP ASAP PLEASE!!!

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31, 2022: In 2023, Umi had the following transactions affecting shareholders and the equity accounts: Jan. 5 The directors declared a $3.50 per share cash dividend payable on Feb. 28 to the Feb. 5 shareholders of record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 900 common shares at $38.70 per share. Aug. 22 Sold 1,400 common shares at $27.50 per share. Sept. 5 The directors declared a $3.50 per share cash dividend payable on October 28 to the October 5 shareholders of record. oct. 28 Paid the dividend declared on September 5. Dec. 31 closed the $347,500 credit balance in the Income Summary account. 31 Closed the Cash Dividends account. Required: 1. Prepare journal entries to record the transactions and closings for 2023 . The company uses a Cash Dividends account when dividends are declared. View transaction list View journal entry worksheet 2. Prepare a statement of changes in equity for the year ended December 31, 2023. (Amounts to be deducted should be indicated by a minus sign.) 3. Prepare the equity section of the corporation's balance sheet as of December 31, 2023. (Enter all amounts as positive values.)

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