Mady Entertainment Inc. showed the following equity account balances on the December 31, 2019, balance sheet:

Common shares, unlimited authorized shares, 550,000 shares issued and outstanding	$	3,850,000
Retained earnings		2,580,000

During 2020, the following selected transactions occurred:

Apr.	1		Repurchased and retired 150,000 common shares at $7.60 per share; this is the first retirement recorded by Mady.
June	1		Declared a 2:1 share split to shareholders of record on June 12, distributable June 30.
Dec.	1		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 $4.60, $4.36, and $4.50, respectively.
	20		Distributed the share dividend declared December 1.
	31		Closed the credit balance of $756,000 in the Income Summary account.

No Date General Journal Debit Credit April 01, 2020 Common shares Retained earnings Cash 1,050,000 90,000 1,140,000 2 June 01, 2020 No journal entry required December 01, 2020 Retained earnings Common share dividends distributable 4 December 20, 2020 Common share dividends distributable Common shares 5 5 December 31, 2020 December 31, Income summa Income summary 756,000 Retained earnings 756,000 Amount Date Note Disclosure April 01, 2020 Note disclosure not required June 01, 2020 Note disclosure required December 01, 2020 Note disclosure not required December 20, 2020 Note disclosure not required December 31, 2020 Note disclosure not required b. Prepare the equity section on the December 31, 2020, balance sheet. MADY ENTERTAINMENT INC. Equity Section of Balance Sheet December 31, 2020 Contributed capital: Common shares, unlimited shares authorized, 880,000 shares issued and outstanding Retained earnings Total equity