Ice Industries Inc. showed the following equity account balances at December 31, 2019:

Common shares, unlimited shares authorized, 78,000 shares issued and outstanding	$	832,000
Retained earnings		120,800

The company issued long-term debt during 2020 that requires a retained earnings restriction of $80,000. Share dividends declared but not distributed during 2020 totalled 7,800 shares capitalized for a total of $93,600. Required: a. Prepare a statement of changes in equity for the year ended December 31, 2020, assuming profit earned during the year was $128,800. (Negative answers should be indicated by a minus sign.)

b. What is the maximum amount of dividends that the company can declare during 2021?