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, $4,700,000; and Retained Earnings, $2,200,000. Net income for the year ended December 31, 2024, is $620,000 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.) 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, $4,700,000; and Retained Earnings, $2,200,000. Net income for the year ended December 31, 2024, is $620,000 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.)