The balance sheet for Umi Sustainable Seafood Inc. reported the following components of equity on December 31 2019 Common shares, unlimited thares authorized, 19,000 shares issued and outstanding Retained earnings Total equity 1367,000 215,000 $52,000 In 2020, Umi had the following transactions affecting shareholders and the equity accounts Jan. July The directors declared $3.10 per share cash dividend payable on fab, to the Feb, 5 shareholders of record. 28 Paid the dividend declared on Jenuary 3. Seld 1,200 common shares at $18.30 per share, 22 Seld 1,700 common shands at $27.50 per share 3 the directors declared $3.10 per share cash dividend payable on October the October 5 shareholders of recond 28 Paid the dividend declared on September 31 Closed the $347,100 credit balance in the Info Siry count 31 Closed the Cash Dividends acont Required: 1. Prepare journal entries to record the transactions and closings for 2020 The company uses a Cash Dividends account when OU " N @ S 26H Next > Prise # 93 E 3A $ 54 C % 85 E D CI 4 B 6 57 ? f 7 8 2 (9 3 10 0 1/4 D F G H T X C V B N M Alt K 1-3 2 O " VK All Car Cu Fors