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, $$100,000$; Additional Paid$-$in Capital, $$4,800,000$; and Retained Earnings, $$2,300,000.$ Net income for the year ended December $31,2024,$ is $$630,000.$