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. Issues 65,000 additional shares of $1 par value common stock for $62 per share March 10 Repurchases 6,000 shares of treasury stock for $65 per share May 1 Declares a cash dividend of $2.00 per share to all stockholders of record on June 15. (Hint Dividends are not paid on treasury stock.) June 1 Pays the cash dividend declared on June 1 July October 21 Reissues 3,000 shares of treasury stock purchased on May 10 for S70 per share Required: Taking into consideration all the transactions recorded in E10-9, prepare the statement of stockholders' equity for Power Drive Corporation for the year ended December 31 2018, using the format provided. POWER DRIVE CORPORATION Statement of Stockholders' Equity For the year ended December 31, 2018 Additionaly Paid-in Total Common Retained Treasury Stock Stockholders' Capital Stock Earnings Equity Balance January 1 $100,000 $5,500,000 $3,000,000 S-0- $8,600,000 Issue common stock Purchase treasury stock Cash dividends Sale of treasury stock Net income Balance, December 31