SW Company provides the Equity & Liability information below for analysis. SW Company had net income of $424300 in 2020 and $373,500 in 2019. Equity and Liabilities Share capital-common (141,888 shares issued) Retained earnings (Note 1) Accrued liabilities Notes payable (current) Accounts payable Total equity and liabilities Note 1: Cash dividends were paid at the rate of $1 per share in 2019 and $2 per share in 2020. Required: 1. Calculate the return on common share equity for 2019 and 2020. (Assume total equity was $1,618,900 at December 31, 2018) (Round your answers to 1 decimal place.) Return on equity 2019 Book value per share 2020 2. Calculate the book value per shares for 2019 and 2020. (Round your answers to 2 decimal places.) 2019 2020 2019 $1,228,500 $1,228,500 429,500 274,500 8,500 6,680 69,700 56,600 60,800 171,900 $1,797,000 $1,738, 100. 2020 Check my work All the shares were issued on January 1, 2018 (when the corporation Degan operations). No dividends had been declared during the first two years of operations (2018 and 2019). During 2020, the cash dividends declared and paid totalled $648,300. 1. Calculate the amount of cash dividends paid during 2020 to each of the three classes of shares. Cumulative preferred shares Noncumulative preferred shares Common shares Cash Dividends 2. Assuming profit earned during 2020 was $1,285,000, determine the December 31, 2019, balance in retained earnings. Retained earings balance 3. Prepare a statement of changes in equity for the year ended December 31, 2020. (Amounts to be deducted should be indicated by a minus sign.) Balance, January 1 Issuance of shares Dividends Balance, December 31 ZOOMZOOM INC. Statement of Changes in Equity For Year Ended December 31, 2020 Preferred shares, $3.75 cum. $ 0 Preferred shares, $10 Non-cum. $ Common shares 0 $ Retained earnings 0 $ Total equity 0 $ 0