On March 1, 2020, VisionTech Inc.'s board of directors declared a 10% share dividend when the market price per share was $26.00. 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 28,000,000 shares authorized 3,500,000 shares issued and outstanding Retained earnings $22,575,000 4,475,000 Required: 1. Prepare a statement of changes in equity for the year ended December 31, 2020, assuming profit earned during the year was $5,837,500. (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 Total Equity Shares Enings $ 22,575,000 $4,475.000f $ 27,050,000 Balance, January 1 De 2 of 6 HA Next > 2. Prepare the equity section of the December 31, 2020, balance sheet. VISIONTECH INC Equity Section of Balance Sheet December 31, 2020 Contributed capital: Total equity