Analysis Componen!! W Exercise 13-2 Share dividends L01 CHECK FIGURE: 3. Total equity = $10,697,800 Pacifica Papers Inc. needed to conserve cash, so instead of a cash dividend the board of dir 15% common share dividend on June 30, 2020, distributable on July 15, 2020. Because pe 2020 was better than expected, the company's board of directors declared a $0.40 per shares November 15, 2020, payable on December 1, 2020, to shareholders of record on November 30 24 section of Pacifica's December 31, 2019, balance sheet showed: oard of directors declareda cause performance during per share cash dividend on Jovember 30, 2020. The equity $6,240,000 2,400,000 Common shares, unlimited shares authorized, 650,000 shares issued and outstanding... Retained earnings... Required 1. Journalize the declaration of the share dividend. The market prices of the shares were $16.00 on June 31 2020, and $17.60 on July 15, 2020. 2. Journalize the declaration of the cash dividend. 3. Prepare the equity section of the balance sheet at December 31, 2020, assuming profit earned during the year was $2,356,800 112 Cholite 101 .. 11:09 PM 0 38% SaskTel. Notes Please include calculations and use all numbers