Exercise 1015 (Algo) Prepare a statement of stockholders' equity (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 Hacch i Issues 42,000 additional shares of $1 par velue connon stock for $44 per share. Kay 10 Purchases 4,200 shares of treasury stock for $47 per share. June 1 Declares a cash dividend of \$1.10 per share to all stockholders of cecord on June 15. (wiat: Dlvidends are not paid on treasury stock. July 1 Pays the cosh dividend declared on June 1. october 21 Resells 2 , 180 shares of treasury stock purchased on pay 10 for $52 per share. Power Drive Corporation has the following beginning balances in as stockholders' equity accounts on January 1, 2024: Common Stock, \$100,000, Additional Paid in Capital, \$3,700,000, and Retained Earnings, \$1,200,000 Net income for the year ended December 31 . 2024,15$520.000. Required: Prepare the statement of stockholders' equity for Power Drive Corporation for the year ended December 31, 2024. (Amounts to be deducted should be indicated by o minus sign.)