Laberge Home Equity Credit Inc. had the following balances in its equity accounts at December 31, 2019: During 2020, the management team at Laberge Home Equity made the following equity transactions: Mar. 15 Repurchased and retired 20,000 common shares at $8.00 per share. Aug. 1 Repurchased and retired 30,000 common shares at $12.00 per share. Dec. 1 The board of directors declared a 2:1 share split effective on this date. 1. Prepare journal entries to account for the transactions during 2020 (assuming the retirements were the first ever recorded by Laberge Home Equity Credit Inc Inc.). 2. Prepare the company's equity section on the December 31, 2020, balance sheet, assuming a loss for the year of $150,000