March $1$ Issues $65,000$ additional shares of $$1$ par value common stock for $$62$ per share.

May $10$ Purchases $6,000$ shares of treasury stock for $$65$ per share.

June $1$ Declares a cash dividend of $$2\mathrm{.}00$ per share to all stockholders of record on June $15.($Hint: Dividends are July $1$ not paid on treasury stock.$)$

$0$ctober $21$ Resells $3,000$ shares of treasury stock purchased on May $10$ for $$70$ per share.

Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January $1,2024$: Common Stock, $$100,000$; Additional Paid$-$in Capital, $$5,500,000$; and Retained Earnings, $$3,000,000.$ Net income for the year ended December $31,2024,$ is $$700,000.$

Required:

Prepare the statement of stockholders' equity for Power Drive Corporation for the year ended Dec'ember $31,2024.\text{'}($Amounts to be deducted should be indicated by a minus sign.$)$

$\backslash$table$[[$POWER DRIVE CORPORATION$],[$Statement of Stockholders' Equity$],[$For the Year Ended December $31,2024],[,$ctinmon Stock,$\backslash$table$[[$Additional$],[$Paid$-$in Capital$]],\backslash$table$[[$Ret$$ined$],[$Earnings$]],$Treasury Stock,$\backslash$table$[[$Total$],[$Stockholders$\text{'}],[$Equity$]]],[$Balance$,$ January $1,$$$,100,000,$$$,5,500,000,$$$,3,000,000,$$$,$$$,8,600,000$