(Solved): Power Drive Corporation designs and produces a line of golt equipment and golf apparel. Power Drive ...

Power Drive Corporation designs and produces a line of golt equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2024 . Power Drive has the following transactions affecting stockhoiders' equity in 2024. March 1 Tssues 61,000 additional shares of \( \$ 1 \) par value connon stock for \( \$ 58 \) per share. May 10 Purchases 5,600 shares of treasury stock for \( \$ 61 \) per share. June 1 Declares a cash dividend of \( \$ 1,80 \) per share to al1 stockholders of record on June 15. (Hint;, Dividends are July 1 pays the cash dividend declared on June 1. october 21 Resells 2,800 shares of treasury stock purchased on May 10 for \( \$ 66 \) per share. Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Common Stock, \( \$ 100,000 \) : Additional Paid-in Capital, \( \$ 5,100,000 \); and Retained Earnings, \( \$ 2,600,000 \). Net income for the year endedDecember 31 , 2024, is \( \$ 660,000 \) Required: Prepare the statement of stockholders' equity for Power Drive Corporation for the year ended December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.)