Refer to the information in E10-9. Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2012: Common Stock, $100,000; Paid-in Capital, $4,500,000; and Retained Earnings, $2,000,000. Net income for the year ended December 31, 2012, is $600,000.
Required:
Taking into consideration all the transactions recorded in E10-9, prepare the statement of stockholders' equity for Power Drive Corporation for the year ended December 31, 2012, using the format provided.

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POWER DRIVE CORPORATION Statement of Stockholders' Equity For the year ended December 31, 2012 Additional Total Paid-in Retained Treasury Stockholders Capital Stock Earnings Stock Equity Balance, January 1 $100,000 $4,500,000 $2,000,000 S 0 Issued common stock Repurchased treasury stock Cash dividends Sold treasury stock Net income Balance, December 31 $6,600,000