On March 1, 2020. VisionTech Inc.'s board of directors declared a 5% share dividend when the market price per share was $30.00. On November 15, 2020, the board of directors declared a 4:1 share split. The equity section of the company's December 31, 2019, balance sheet showed: Common shares; 20,000,000 shares authorized; 3,100,000 shares issued and outstanding Retained earnings $ 19,530,000 6,570,000 Required: 1. Prepare a statement of changes in equity for the year ended December 31, 2020, assuming profit earned during the year was $3,842,500. (Amounts to be deducted should be indicated by a minus sign.) VISION TECH INC. Statement of Changes in Equity For Year Ended December 31, 2020 Common Retained Shares Earnings Balance January 1 Total Equity Google Chr Balance December 31 2 N 2. Prepare the equity section of the December 31, 2020, balance sheet. VISION TECH INC. Equity Section of Balance Sheet December 31, 2020 Contributed capital Total equity $ 0