Question 5 (8 points) ACCT-2043 Winter 2020 vb The following equity balances were reported for Star Co. on December 31, 2019: Common shares, 50,000 shares issued Retained earnings Total equity $1,480,000 225.600 $1,705,600 On January 26, 2020 the board of directors declared a 5% stock dividend to the shareholders of record on February 12 to be distributed on February 28. The market price of the shares on January 26 was $8.00. On July 4, 2020 the board of directors declared a 2:1 stock split. Required: a. Prepare the journal entries required for the above transactions. (5 marks) b. What is the total number of common shares issued and outstanding at December 31 2020? (Show your calculations) (3 marks) - Paragraph B I- earch