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 2018. Power Drive has the following transactions affecting stockholders' equity in 2018 March 1 Issues 58,000 additional shares of $1 par value common stock for $55 per share May 10 Repurchases 5,300 shares of treasury stock for $58 per share. June 1 Declares a cash dividend of $1.65 per share to all 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 Relssues 2,650 shares of treasury stock purchased on May 10 for $63 per share n Stock, $100,000 Additional Paid-in Capital. $4,800,000: and Power Drive Corporation has the following beginning balances in its stockholders equity accounts on January 1. 201 Retained Earnings, $2,300,000. Net income for the year ended December 31, 2018, is $630.000 Required: Prepare the stockholders equity section of the balcesheet for Power D ive Corporation as of December 31. 2018. (Amounts to be deducted should be indicated by a minus sign.) POWER DRIVE CORPORATION Balance Sheet (Stockholders Equity Soction) December 31, 2018 Stockholders equity: Common stock Additional paid-in capital 58,000 58,000 Total paid-in capital etained earning reasury stock 58,000