The balance sheet for Umami Sustainable Seafood Inc. reported the following components of equity on December 31, 2014:

Common shares, unlimited shares authorized, 20,800 shares issued and outstanding	$	376,000
Retained earnings		224,000
Total equity	$	600,000

In 2015, Umami had the following transactions affecting shareholders and the equity accounts:

Jan. 5	The directors declared a $4.00 per share cash dividend payable on Feb. 28 to the Feb. 5 shareholders of record.
Feb. 28	Paid the dividend declared on January 5.
July 6	Sold 1,150 common shares at $39.20 per share.
Aug. 22	Sold 1,650 common shares at $28.00 per share.
Sept. 5	The directors declared a $4.00 per share cash dividend payable on Oct. 28 to the Oct. 5 shareholders of record.
Oct. 28	Paid the dividend declared on September 5.
Dec. 31	Closed the $348,000 credit balance in the Income Summary account.
31	Closed the Cash Dividends account.

Required:

1.	Prepare journal entries to record the transactions and closings for 2015. The company uses a cash dividends account to record declared dividends. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2.	Prepare a statement of changes in equity for the year ended December 31, 2015. (Amounts to be deducted should be indicated by a minus sign.)

3.	Prepare the equity section of the corporations balance sheet as of December 31, 2015. (Enter all amounts as positive values.)