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 2024 . Power Drive has the following transactions affecting stockholders' equity in 2024. March 1 Issues 55,000 additional ahares of $1 par value common stock for $52 per share. May 10 Purchases 5,000 shares of treasury stock for $55 per share. June 1 beclares a cash dividend of $1.50 per share to al1 stockholders of record on June 15. (Hint) Dividends are July 1 Pays the cash dividend declared on June 1. october 21 Resells 2,500 shares of treasary stoek purehased on May 10 for $60 per ahare. 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, $4,500,000; and Retained Earnings, $2,000,000. Net income for the year ended December 31. 2024, is $600,000 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.) $100,000 : Additional Paid-in Capital, $4,500,000; and Retained Earnings, $2,000,000. Net income for the year ended December 31, 2024 , is $600,000 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.)