StarfishCorporation's shareholders' equity section at December 31, 2019appears below:Shareholders' equityShare capitalCommon shares, 82,000 issued$ 799,860Retained earnings150,000Accumulated other comprehensive income450,000Total shareholders' equity$1,399,860On June 30, 2020, the board of directors declared a 15% stock dividend, distributable on July 31 to shareholders of record on July 15. The fair value of StarfishCorporation's shares on June 30 was $14.An unlimited numberof shares havebeen authorized.On December 1, 2020, the board of directors declared a 2 for 1 stock spliteffective December 15. StarfishCorporation's shares were selling for $20 on December 1, 2020, before the stock split was declared. Net incomefor 2020was $230,000 and there were no cash dividends declared.Instructions(a)Prepare the journal entries on the appropriate dates to record the stock dividend and the stock split. (6 marks)(b)Prepare all closing entries required on December 31, 2020.(4marks)(c)Please answer the following as it relates to the Shareholders Equity accounts @ December 31, 2020. (5 marks)a.What is the value of the common shares?b.How many shares are outstanding?c.What is the legal capital per share?d.What is the retained earnings balance?e.What is the total shareholders equity?