On December 31, 2020, Pharoah Corporation had the following shareholders' equity accounts: PHAROAH CORPORATION Balance Sheet (partial) December 31, 2020 Shareholders' equity Common shares (unlimited number of shares authorized, 90,000 issued) Retained earnings $ 1,005,000 510,000 Total shareholders' equity $1,515,000 During the year, the following transactions occurred: Jan 15 July 1 Dec 15 Declared a $ 1 per share cash dividend to shareholders of record on January 31, payable February 15. Announced a 3-for-2 stock split. The market price per share on the date of the announcement was $ 12. Declared a 10% stock dividend to shareholders of record on December 30, distributable on January 15. On December 15, the market price of each share was $ 8; on December 30, $ 11, and on January 15, $ 10. Determined that profit before income tax for the year was $ 435,000. The company has a 25% income tax rate, 31 On December 31, 2020, Pharoah Corporation had the following shareholders' equity accounts: PHAROAH CORPORATION Balance Sheet (partial) December 31, 2020 Shareholders' equity Common shares (unlimited number of shares authorized, 90,000 issued) Retained earnings $ 1,005,000 510,000 Total shareholders' equity $1,515,000 During the year, the following transactions occurred: Jan 15 July 1 Dec 15 Declared a $ 1 per share cash dividend to shareholders of record on January 31, payable February 15. Announced a 3-for-2 stock split. The market price per share on the date of the announcement was $ 12. Declared a 10% stock dividend to shareholders of record on December 30, distributable on January 15. On December 15, the market price of each share was $ 8; on December 30, $ 11, and on January 15, $ 10. Determined that profit before income tax for the year was $ 435,000. The company has a 25% income tax rate, 31