Exercise 10-15 (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. March 1 Issues 46,600 additional shares of $1 par value conmon stock for $43 per share. May 10 Purchases 4,100 shares of treasury stock for $46 par share. June 1 Declares a cash dividend of \$1.05 per share to all stockholders of recond on June 15. (Hint: oividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 hesells 2 , ese shares of treasury stock purchased on May 20 for $51 per share. Power Drive Corporation has the following beginning balances in its stockhoiders' equity accounts on January 1, 2024. Common Stock, \$100,000: Additional Paid-in Capital, \$3.600,000; and Retained Earnings, $1,100,000. Net income for the year ended December 31 . 2024, is $510,000 Required: Prepare the statement of stockholders' equity for Power Drive Corporation for the year ended December 31, 2024. (Amounts to be deducted should be indicoted by a minus sign.) Required: Prepare the statement of stockholders' equity for Power Drive Corporation for the year ended December 31,2024 . (Amount deducted should be indicated by a minus sign.)