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October 21 Resells 3,000 shares of treasury stock purchased on May 10 for ( $ 70 ) per share. Power Drive Corporation has the following
October 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 December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.)
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