required:

1. prepare a statement of changes in equity for the year ended December 31,2020 ,assuming profit earned during the year was $8030000.

2. prepare the equity section of December 31,2020, balance sheet.

On March 1, 2020, VisionTech Inc.'s board of directors declared a 15% share dividend when the market price per share was $17.00. On November 15, 2020, the board of directors declared a 4:1 share split. The equity section of the company's December 31, 2019, balance sheet showed: Common shares; 20,000,000 shares authorized; 4,050,000 shares issued and outstanding Retained earnings $ 27,720,000 3,365,000