0.66 points Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2015. Power Drive has the following transactions affecting stockholders' equity in 2015 March May June 1 Declares a cash dividend of $1.75 per share to all stockholders of record on June 15. (Hinit 1 10 Issues 60,000 additional shares of $1 par value common stock for $57 per share Repurchases 5,500 shares of treasury stock for $60 per share July October 21 Dividends are not paid on treasury stock.) Pays the cash dividend declared on June 1 Reissues 2,750 shares of treasury stock purchased on May 10 for $65 per share 1 Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2015: Common Stock, $100,000; Additional Paid-in Capital, $5,000,000; and Retained Earnings $2,500,000. Net income for the year ended December 31, 2015, is $650,000 Required Prepare the stockholders' equity section of the balance sheet for Power Drive Corporation as of December 31, 2015. (Amounts to be deducted should be indicated by a minus sign.) POWER DRIVE CORPORATION Balance Sheet (Stockholders' Equity Section) December 31, 2015 Stockholders' equity ommon stock Total paid-in capital Total stockholders' equity [The following information applies to the questions displayed below,] Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2015, 420 shares of preferred stock and 5,200 shares of common stock have been issued. The following transactions affect stockholders' equity during 2015 March May Issues 2,300 shares of common stock for $54 per share 15 1 Repurchases 520 shares of treasury stock for $47 per share 10 Reissues 320 shares of treasury stock purchased on May 15 for $52 per share October December 15 Issues 320 shares of preferred stock for $57 per share 1 Declares a cash dividend on both common and preferred stock of $1.70 per share to all stockholders of record on December 15. (Hint Dividends are not paid on treasury stock.) December 31 Pays the cash dividends declared on December 1 Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2015: Preferred Stock, $420; Common Stock, $52; Additional Paid-in Capital, $82,000; and Retained Earnings, $32,900. Net income for the year ended December 31, 2015, is $13,200