The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31, 2022:

Common shares, unlimited shares authorized, 21,000 shares issued and outstanding	$	378,000
Retained earnings		226,000
Total equity	$	604,000

In 2023, Umi had the following transactions affecting shareholders and the equity accounts:

Jan.	5		The directors declared a $4.20 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 1,250 common shares at $39.40 per share.
Aug.	22		Sold 1,750 common shares at $28.20 per share.
Sept.	5		The directors declared a $4.20 per share cash dividend payable on October 28 to the October 5 shareholders of record.
Oct.	28		Paid the dividend declared on September 5.
Dec.	31		Closed the $348,200 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 2023. The company uses a Cash Dividends account when dividends are declared.

2. Prepare a statement of changes in equity for the year ended December 31, 2023. (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, 2023. (Enter all amounts as positive values.)