Prepare the statement of stockholders equity for Power Drive Corporation for the year ended December 31, 2015. (Amounts to be deducted should be indicated by a minus sign.)

Exercise 10-12 Prepare a statement of stockholders equity (LO7) 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 2015. Power Drive has the following transactions affecting stockholders' equity in 2015 March 1 May 10 June1 Issues 56,000 additional shares of $1 par value common stock for $53 per share Repurchases 5,100 shares of treasury stock for $56 per share Declares a cash dividend of $1.55 per share to all stockholders of record on June 15 (Hint: Dividends are not paid on treasury stock.) Pays the cash dividend declared on June 1 Reissues 2,550 shares of treasury stock purchased on May 10 for $61 per share July October 21 1 Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2015: Common Stock, $100,000; Additional Paid-in Capital, $4,600,000; and Retained Earnings, $2,100,000. Net income for the year ended December 31, 2015, is $610,000 Required Prepare the statement of stockholders' equity for Power Drive Corporation for the year ended December 31 2015. (Amounts to be deducted should be indicated by a minus sign.) POWER DRIVE CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2015 Total Additional Paid-in Capital Retained Earnings Common Stock Treasury Stock Stockholders Equity $ 100,000$ 4,600,000$ 2,100,000$ 0$6,800,000 Balance, January 1 Issue common stock Purchase treasury stock Cash dividends Sale of treasury stock Net income Balance, December 31 100,000 4,600,000 2,100,000 0 $ 6,800,000