I need help with the equity section. Mady entertainment inc. showed the following equity account balances on the December 31,2019 balance sheet:Common shares, unlimited authorized shares, 570,000 shares issues and outstanding $ 4 560,000Retained earnings 2 480,000Checkpoint figure: equity December 31,2020= $6 440,800

rate Reporting: Profit, Earnings Per Share, and Retained Earnings During 2020, the following selected transactions occurred: Apr. Repurchased and retired 154,000 common shares at $8.80 per share; this is the first retirement recorded by Mady. June Declared a 2:1 share split to shareholders of record on June 12, distributable June 30. Dec. Declared a 10% share dividend to shareholders of record on December 10, distributable December 20. The market prices of the shares on December 1, December 10, and December 20 were $5.80, $5.56, and $5.70, respectively. Distributed the share dividend declared December 1. 31 Closed the credit balance of $756,000 in the Income Summary account. Required a. Journalize the transactions above (assuming the retirements were the first ever recorded by Mady Entertainment Inc.). b. Prepare the equity section on the December 31, 2020, balance sheet. 103