i am unable to understand the 3rd part can anyone help me in 3rd part. What is gonna come in Retained earnings.

1 Pacifica Papers Inc. needed to conserve cash, so instead of a cash dividend the board of directors declared a 10% common share dividend on June 30, 2020, distributable on July 15, 2020. Because performance during 2020 was better than expected, the company's board of directors declared a $1.75 per share cash dividend on November 15, 2020, payable on December 1, 2020, to shareholders of record on November 30, 2020. The equity section of Pacifica's December 31, 2019, balance sheet showed: 10 points Common shares, unlimited shares authorized, 1,050,000 shares issued and outstanding Retained earnings $8,190,000 2,400,000 eBook Required: 1. Journalize the declaration of the share dividend. The market prices of the shares were $16.10 on June 30, 2020, and $18.00 on July 15, 2020. Assume share dividends account is used when dividends are declared. Print References View transaction list View journal entry worksheet Debat Credit No Date June 30, 2020 1,690.500 General Journal Share dividends Connon share dividends distributable 1,000,000 Seved Help 1 10 points eBook 2. Journalize the declaration of the cash dividend. Assume share dividends account is used when dividends are declared. Print View transaction list View journal entry worksheet No Date General Journal Debit Credit References 1 2,021,250 November 15, 2020 Cash dividends Common shares dividends payable 2.021.250 3. Prepare the equity section of the balance sheet at December 31, 2020, assuming profit earned during the year was $1,863,000. PACIFICA PAPERS INC. Equity Section of Balance Sheet December 31, 2020 Contributed capital: Common shares, unlimited shares authorized, 1,155,000 shares issued and outstanding Retained earnings $ 9,880,500 Total equity $ 9,880,500