Arcus Development Inc.s equity section on the December 31, 2016, balance sheet showed the following information:

Common shares, unlimited shares authorized, 190,000 shares issued and outstanding	$3,192,000
Retained earnings	625,000

On January 15, 2017, the companys board of directors declared a 10% share dividend to the shareholders of record on January 20 to be distributed on January 30. The market prices of the shares on January 15, 20, and 30 were $19.50, $17.80, and $18.65, respectively.

Required: 1. Prepare the required entries for January 15, 20, and 30. Assume share dividends account is used when dividends are declared. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 > Record the declaration of share dividends to common shareholders. Note: Enter debits before credits. Date General Journal Debit Credit January 15, 2017 Record entry Clear entry View general journal 2. Prepare the equity section on the January 31, 2017, balance sheet, assuming profit earned during January 2017 was $600,000. ARCUS DEVELOPMENT INC. Equity Section of Balance Sheet January 31, 2017 Contributed capital: Total equity $ 0