Exercise 10-14 (Algo) Prepare the stockholders' equity section of the balance sheet (LO10-7) Power Drive Corporation designs and produces a line of goif 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 stockholders' equity in 2024. March I Issues 47,000 additional shares of $1 par value comen stock for $44 per shace. Harch 10 issues 47 purchases 4,200 shares of treasury stock for $47 per share. June 1. Declares o cash dividend of \$1i.10 per share to al1 stockholders of record an June 15. (Hint: Oividends ace nat paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 hesel1s 2,100 shares of treasury stock purchased on Moy 10 for 552 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, $3,700,000, and Petained Eamings, $1,200,000. Net income for the year ended December 31 , 2024. is $520,000 Prepare the stockholders' equity section of the balance sheet for Power Drive Corporation as of December 31, 2024, (Amounts to be Required: deducted should be indicoted by a minus sign.)