On December 31, 2020, Pekoe Corporation reported $3,000,000 in its Common Shares account (200,000 issued) and retained earnings of $1,000,000. During 2021, the following events occurred: 1. 2. On July 1, the company issued 100,000 common shares at $17 per share. On December 15, the board of directors declared a 15% stock dividend to common shareholders of record on December 31, payable on January 15, 2022. The market value of Pekoe Corporation common shares was $16 per share on December 15 and $14 per share on December 31. Profit for 2021 was $625,000. 3. 4. Instructions a) Record the issue of shares on July 1 and the declaration of the stock dividend on December 15. b) Prepare the shareholders' equity section of the statement of financial position at December 31, 2021