June 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 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. March 1 Ipues 47,000 additional nhares of $1 par value common stock for $44 per share. May 10 Purchases 4,200 shares of treasury stock for $47 per share. 1 Declares a cash dividend of $1.10 per share to ali stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,100 shares of treasury stock purchased on May 10 for $52 per share. Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2021: 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, 2021, is $520,000 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 Statement of Stockholders' Equity For the Year Ended December 31, 2021 Total Additional Retained Common Stock Paid-in Capital Earnings Treasury Stock Stockholders' Equity $ 100,000 $ 3,700,000 $ 1,200,000 $ 0 $ 5,000,000 Balance, January 1 Issue common stock Purchase treasury stock Declare dividends Resell treasury stock 00 Declarath dividend of 1:10 per share to all stockholders of record on June 1S. WW Blvidends are not paid on stock) July 1 Pays the cash dividend Beclared on June 1. October 21 resells 1,100 shares of treasury stock parchased on May 10 for $2 per share. Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1 2021: 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 2021, is $520,000 Documents ook A 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.) ht POWER DRIVE CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2021 Total Additional Retained Common Stock Pald-in Capital Earnings Treasury Stock Stockholders Equity 5 100.000 53.700.000 5 1.200.000 0 $ 5.000.000 Macro Balance January 1 issue common stock Purchase treasury stock Decare dividends Resell treasury stock Not income Balance December 31 F