On March 1, 2020, VisionTech Inc.'s board of directors declared a 5% share dividend when the market price per share was $24.00. On November 15, 2020, the board of directors declared a 41 share split. The equity section of the company's December 31, 2019, balance sheet showed: Common shares; 20,680,000 shares authorized; 3,700,000 shares issued and outstanding Retained earnings $ 23,865,000 3,460,000 Required: 1. Prepare a statement of changes in equity for the year ended December 31, 2020, assuming profit earned during the year was $3,872,500.(Amounts to be deducted should be indicated by a minus sign.) Total Equity VISIONTECH INC. Statement of Changes in Equity For Year Ended December 31, 2020 Common Retained Shares Earnings Balance, January 1 S 23.865,000 Share dividends Profit Balance December 31 Common shares; 20,000,000 shares authorized; 3,700,000 shares issued and outstanding Retained earnings $ 23,865,000 3,460,000 Required: 1. Prepare a statement of changes in equity for the year ended December 31, 2020, assuming profit earned during the year was $3,872,500. (Amounts to be deducted should be indicated by a minus sign.) VISIONTECH INC. Statement of Changes in Equity For Year Ended December 31, 2020 Common Retained Shares Earnings Balance, January 1 $ 23,865,000 Share dividends Profit Balance, December 31 nces Total Equity Bi FES O e here to search 2. Prepare the equity section of the December 31, 2020, balance sheet. VISIONTECH INC. Equity Section of Balance Sheet December 31, 2020 Contributed capital: $ 0 Total equity