Kaye Biotech Inc. had the following equity account balances at December 31, 2019: $ 38,500 Preferred shares, $2.70, non-cumulative, Authorized: 21,000 shares Issued and outstanding: 5,500 shares Common shares, Authorized: Unlimited Issued and outstanding: 87,500 shares Retained earnings 296,157 42,600 On February 1, 2020, 5,500 preferred shares were issued at $8.20 each. The board of directors declared and paid the annual cash dividend on the preferred shares on June 30, 2020, and a 14% common share dividend was declared and distributed on the same day when the market price per common share was $4.45. On October 1, 2020, 21,000 common shares were issued at $4.59 each. Profit earned during 2020 was $413,800. Required: Using the information provided, prepare the statement of changes in equity for the year ended December 31, 2020. (Amounts to be deducted should be indicated by a minus sign.) KAYE BIOTECH INC Statement of Changes in Equity For Year Ended December 31, 2020 Preferred Common Shares Shares Retained Earnings Total Equity Balance, January 1 Balance, December 31