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 bed March 1 Issues 57.000 additional shares of 31 par value common stock for $56 per share. May 10 Purchases 5,200 shares of treasury stock for $57 per share Sune (1 Declares a cash dividend of $1.60 per thare to all stockholders of record on June 15. Chi dividends are not paldon treasury stock. Duly 1 Pays the cash dividend declared on June 1 October 21 Resells 2,600 shares of treasury stock purchased on May 10 for 162 per share 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, $4700.000 and Retained Earnings $2.200.000 Net income for the year ended December 31 2021, is $620,000 OK 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.) w ncet POWER DRIVE CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2021 Total Additional Common Stock Retained Paid in Capital Earnings Treasury Stock Stockholders' Equity $ 100,000 $ 4.700 000 $ 2.200.000 $ 05 7,000,000 Balance, January 1 Issue common stock Purchase treasury stock Declare dividends Resell treasury stock Net Income Balance, December 31 5 100.000 4,700,000 2.200 000 05 7 000 000