Kaye Blotech Inc. had the following equity account balances at December 31, 2019 $ 48,300 Preferred shares, $3.40, non cumulative, Authorized: 23,800 shares Issued and outstanding: 6,900 shares Common shares, Authorized: Unlimited Issued and outstanding 94,500 shares Retained earnings 319,849 48,200 On February 1, 2020, 6,900 preferred shares were issued at $9.60 each. The board of directors declared and paid the annual cash dividend on the preferred shares on June 30, 2020, and a 10% common share dividend was declared and distributed on the same day when the market price per common share was $5.15. On October 1, 2020, 23,800 common shares were issued at $5.29 each. Profit earned during 2020 was $427.800. 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 Retained Total Shares Shares Earnings Equity Balance, January 1 $ 48,300 $ 289,387 $ 48,200 $ 385,887 Preferred shares issued 0 Proforted cash dividends 0 Common shares dividend 0 Common shares issued 0 Profit 0 Balance December 31 $ 48,300 $ 289,387 $ 48,200 S 385,887