common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. March 1 Issues 56,000 additional shares of $1 par value common stock for $53 per share. May June 10 Purchases 5,100 shares of treasury stock for $56 per share. 1 Declares a cash dividend of $1.55 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,550 shares of treasury stock purchased on May 10 for $61 per share. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) No Date 1 March 01, 2021 Cash Common Stock Answer is not complete. General Journali Debit Credit 2,968,000 56,000 3,380,000 Additional Paid-in Capital