On July 31, Sweep Airline Ltd's equity was $400,000 Common shares, unlimited shares authorized, 100,000 shares issued and outstanding Retained earnings Total equity 550,000 $950,000 Also note that on July 31 the market value of Sweep Airline's shares was $12 per share. The directors considered declaring a 10% or 20% share dividend and wanted to know what effect each share dividend would have on total equity. Calculate the balances that should be in the following accounts after a share dividend distribution Balonces After 10% Share Dividend Balances After 20% Share Dividend Common shares Retained earnings Short Answer Toolbet gation BI SEE 3 1 1 5. AA 8