The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31, 2019 Comeon shares, unlimited shares authorized, 20,200 shares issued and outstanding Retained earnings Total equity $370,000 218,000 $588,000 In 2020. Umi had the following transactions affecting shareholders and the equity accounts: Jan. Fel. July Sept Oct Dec 5 The directors declared a $3.40 per share cash dividend payable on Feb. 28 to the Feb. 5 shareholders of record. 28 Paid the dividend declared on January 5. 6 Sold 850 common shares at $38.60 per share. 22 Sold 1,150 common shares at $27.40 per share, 5 The directors declared $3.40 per share cash dividend payable on October 28 to the October 5 shareholders of record. 26 Paid the dividend declared on September 5. 31 Closed the $347,400 credit balance in the Income Suneary account. 31 Closed the Cash Dividends account. Required: 1. Prepare journal entres to record the transactions and closings for 2020. The company uses a Cash Dividends account when dividends are declared View transactional ces Required: 1. Prepare journal entries to record the transactions and closings for 2020. The company uses a Cash Dividends account when dividends are declared View transaction Journal entry worksheet 1 2 3 4 5 2 8 Record the dividend declared on 20,200 outstanding shares. butterf Date Jan 05, 2020 General Journal Debit Credit Record entry Clear entry View generat journal 2. Prepare a statement of changes in equity for the year ended December 31, 2020 Amount be deducted should be indicated by us sign LIM SUSTAINABLE SEAFOOD MC Babsent of Change y For Year Ended Deber 21, 20 Balance, January 1 0 Balance, December 31 Commen Related Earnings Total Faily 3. Prepare the equity section of the corporation's balance sheer as of December 31, 2020. Enter all amounts as positive values.) Contributed capital UM SUSTAINABLE SEAFOOD INC Equity Section of the Balance Sheet December 11.2020 T