Exercise 10-14 (Algo) Prepare the stockholders' equity section of the balance sheet (LO10-7) 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 2024. Power Drive has the following transactions affecting stockholders' equity in 2024 Marebil Issues 64,000 additional shares of 51 par value connon stock for $61 per share. May 10 Turchases 5,900 shares of treasury atock for 564 per share. Juse 1 Declares a eash dividend of $1.95 per whare 60 all ateokholders of record on ause 15 . (aint) Dividesds are not paid on tressury stooki) July 1 Pays the eash dividend declared on June 1. Getober 21 Resedil 2,950 ahares of treasury stoek parehaned on kay io tor 669 per ahare. 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, $5,400,000; and Retained Earnings, $2,900,000. Net income for the year ended December 31. 2024,15,$690,000. Required: Prepare the stockholders' equity section of the balance sheet for Power Drive Corporation as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.)