The shareholders' equity of Tirana Ltd. at July 31, 2020 is presented below: Common shares, no par value, authorized 400,000 shares, $4,160,000 issued and outstanding 200,000 shares...... I Retained earnings........ 2,650,000 Total shareholders' equity......... $ 6,810,00 On August 1, 2020, the board of directors declared a $50,000 cash dividend, to be distributed on December 15, 2020, for the record at the end of Oct 10, 2020. Required Prepare the journal entries if required, to record this transaction Assuming there is no other transaction Tirana made during 2020, Re-prepare the shareholders equity after the payment of dividends