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Arcus Development Inc.s equity section on the December 31,2022, balance sheet showed the following information:...

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Accounting

Arcus Development Inc.s equity section on the December 31,2022, balance sheet showed the following information:
Common shares, unlimited shares authorized, 200,000 shares issued and outstanding $ 3,280,000
Retained earnings 482,500
On January 15,2023, 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 $19.20, $17.40, and $18.30, 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.)
2. Prepare the equity section on the January 31,2023, balance sheet, assuming profit earned during January 2023 was $565,000.

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