Arcus Development Inc.'s equity section on the December 31, 2019. balance sheet showed the following information: Common shares, unlimited shares authorized, 260,000 whares inued and outstanding $3,640,000 Retained earninga 622,500 On January 15, 2020, the company's board of directors declared a 5% 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 $17.40, $15.00, and $16.20, respectively. Required: 1. Prepare the required entries for January 15, 20, and 30. Assume share dividends account is used when dividends are declared. (of no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 2. Prepare the equity section on the January 31, 2020, balance sheet, assuming profit earned during January 2020 was $705.000 ARCUS DEVELOPMENT INC. Equity Section of Balance Sheet January 31, 2020 Contributed capital Total equity