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 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. points March 1 Issues 51,000 additional shares of $1 par value common stock for $48 per share. May 10 Purchases 4,600 shares of treasury stock for $51 per share. June 1 Declares a cash dividend of $1.30 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 Resells 2,300 shares of treasury stock purchased on May 10 for $56 per share. eBook Hint Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Common Stock, $100,000; Additional Paid-in Capital, $4,100,000; and Retained Earnings, $1,600,000. Net income for the year ended December 31, 2021, is $560,000. Print References Required: Prepare the statement of stockholders' equity for Power Drive Corporation for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) POWER DRIVE CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2021 Common Stock Treasury Stock Additional Paid-in Capital $ 4,100,000 Retained Earnings $ 1,600,000 Total Stockholders' Equity $ 5,800,000 $ 100,000 $ 0 Balance, January 1 Issue common stock Purchase treasury stock Declare dividends Resell treasury stock Net income Balance, December 31 (The following information applies to the questions displayed below.) Part 1 of 2 Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021, 300 shares of preferred stock and 3,400 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: 1.5 points March 1 Issue 1,100 shares of common stock for $36 per share. May 15 Purchase 400 shares of treasury stock for $29 per share. 200 shares of treasury stock purchased on May 15 for $34 per share. October 15 Issue 200 shares of preferred stock for $39 per share. December 1 Declare a cash dividend on both common and preferred stock of $0.95 per share to all stockholders of record on December 15. (Hint: Dividends are not paid on treasury stock.) December 31 Pay the cash dividends declared on December 1. eBook Print References Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, $300; Common Stock, $34; Additional Paid-in Capital, $70,000; and Retained Earnings, $27,500. Net income for the year ended December 31, 2021, is $10,200. Taking into consideration the beginning balances on January 1, 2021 and all the transactions during 2021, respond to the following for Donnie Hilfiger: Problem 10-5A Part 1 Required: 1. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) DONNIE HILFIGER Balance Sheet (Stockholders' Equity Section) TOITUVVITY IUI VOIE nyei. Problem 10-5A Part 1 Part 1 of 2 Required: 1. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) 1.5 points eBook Print References DONNIE HILFIGER Balance Sheet (Stockholders' Equity Section) December 31, 2021 Stockholders' equity: Preferred stock $ Common stock Additional paid-in capital 500 45 Total paid-in capital 545 Total stockholders' equity $ 545 year ended December 31, 2021, 15 IV, ZUU. Taking into consideration the beginning balances on January 1, 2021 and all the transactions during 2021, respond to the following for Donnie Hilfiger: Part 2 of 2 Problem 10-5A Part 2 1.5 points 2. Prepare the statement of stockholders' equity for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) eBook Print DONNIE HILFIGER Statement of Stockholders' Equity For the Year Ended December 31, 2021 References Preferred Stock Common Stock Additional Paid-in Capital Retained Earnings Total Treasury Stock Stockholders' Equity Balance, January 1 Issue common stock Purchase treasury stock Resell treasury stock Issue preferred stock Declare cash dividends Net income Balance, December 31 0 $ 0 $ 0 $ 0 $ 0 $ 0