The balance sheet for Umi Sustainable Seafood Inc, reported the following components of equity on December 31, 2022: In 2023, Umi had the following transactions affecting shareholders and the equity accounts: Jan. 5 The directors declared a \$3.50 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 900 common shares at $38.70 per share. Aug. 22 Sold 1,400 common shares at $27,50 per share. Sept. 5 The directors declared a $3.58 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 $347,500 credit balance in the Income sumary 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. Journal entry worksheet 4567 Record the dividend declared on 20,300 outstanding shares. Note: Enter debits before credits. 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 corporation's balance sheet as of December 31,2023. (Enter all amounts as positive values.)