the balance sheet for umami sustainable seafood inc reported the following component 4374988

The balance sheet for Umami Sustainable Seafood Inc. reported the following components of equity on December 31, 2014:Common shares, unlimited shares authorized,20,000 shares issued and outstanding …………………………………………………… $368,000Retained earnings………………………………………………………………………………….. 216,000Total equity………………………………………………………………………………………….. $584,000In 2015, Umami had the following transactions affecting shareholders and the equity accounts:Required1. Prepare journal entries to record the transactions and closings for 2015.2. Prepare a statement of changes in equity for the year ended December 31, 2015.3. Prepare the equity section of the corporation’s balance sheet as of December 31, 2015.Analysis Component: Explain the relationship between assets and retained earnings; use your answer in Part 3 above as part of theexplanation.
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The balance sheet for Umami Sustainable Seafood Inc reported the

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