Exercise 10-12A Prepare a statement of stockholders' equity (LO10-7) Power Drive Corporation designs and produces a line of goif equipment and goif apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021, Power Drive has the following transactions affecting stockhoiders' equity in 2021 Mareh 1 Issues 61,008 additional shares of $1 par value conmon 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 $1.8e per share to alt stockholders of record on June 15. (Hints Dividends are not paid on treasury stock.) Juty 1 Pays the cash dividend declared on June 1. october 21 Reselts 2 , 8ee shares of treasury stock purchased on May 10 for 566 per share. Power Drive Corporation has the following beginning batances in its stockholders' equity accounts on January 1, 2021: Common Stock, $100,000; Additional Paid-in Capital, $5,100,000; and Retained Earnings, $2,600,000. Net income for the year ended December 31, 2021 , is $660,000 Required: Prepare the statement of stockholders' equity for Power Drive Corporation for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Common Stock, $100,000; Additional Paid-in Copital, $5,100,000; and Retained Earnings, $2,600,000. Net income for the year ended December 31, 2021 , is $660,000 Required: Prepare the statement of stockhoiders' equity for Power Drive Corporation for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)