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 $2024.$Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January $1,2024$: Common Stock, $$100,000$; Additional Paid$-$in Capital, $$3,700,000$; and Retained Earnings, $$1,200,000.$ Net income for the year ended December $31,2024,$ is $$520,000.$

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.$)$

$\backslash$table$[[$POWER DRIVE CORPORATION$],[$Statement of Stockholders' Equity$],[$For the Year Ended December $31,2024],[,$Common Stock,$\backslash$table$[[$Additional$],[$Paid$-$in Capital$]],\backslash$table$[[$Retained$],[$Earnings$]],$Treasury Stock,$\backslash$table$[[$Total$],[$Stockholders$\text{'}],[$Equity$]]],[$Balance$,$ January $1,$$$,.100,000,$$$,3,700,000,$$$,1,200,000,0,5,000,000$