Insert your answers in the excel template provided at bottom:

PhoneFind showed the following equity information at December 31,2019 : On April 1, 2020, 200,000 common shares were issued at $0.60 per share. On June 1 , the board of directors declared a 15% share dividend to shareholders of record on June 15 , the distribution date was July 1 . The market prices of the shares on June 1 , June 15 , and July 1 were $2.08,$1.76, and $1.96, respectively. On December 11 , the board of directors declared a 2:1 share split to shareholders of record on December 15 , the distribution date was December 20 . Profit earned during the year was $1,400,000. Required: Prepare the company's equity section on the December 31, 2020, balance sheet. Insert your answers in the excel template provided Required: Prepare the company's equity section on the December