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Power Drive Corporation designs and produces a line of golf equipment and golf opparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2024 . Power Drive has the following transoctions affecting stockholders' equity in 2024. yarch 1 Issues se,eee additional shares of $1 par value coenon stock for $47 per share. May 1e purchases 4 , see shares of treasury stock for sse per share. June 1 Declares a cash dividend of $1.25 per share to all stockholders of record on zune 15. (wint: oividends are not paid on July 1 Pays the cash dividend declared on zune 1. october 21 Resells 2,25 e shares of treasury stock purchased on way 10 . for 555 per share. 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, $4,000,000, and Retained Earnings, $1,500,000. Net income for the year ended December 31 , 2024, is $550,000 Required: Prepare the stockholders' equity section of the baiance sheet for Power Drive Corporation as of December 31, 2024. (Amounts to be deducted should be indiceted by a minus sign.) Maple Forest Corporation designs and produces a line of golf equipment and golf apparel. Maple Forest hos s00,000 shares of common stock outstanding as of the beginning of 2024 . Maple Forest has the following transactions affecting stockholders' equity in 2024 March 1 Issues 57 ; 100 adaitional shares of $11 par value cooopn stock for 554 per ithare. May 1e. Purchases 5,200 shares of treasury stock for $57 per share. June 1 Declares a cash dividend of 11.60 per share to all stockholders of record on 2ine 15. (hint: otvisends are not paid on July 1 Payse the cash dividend declared on zune 1. october 21 Resells 2 , 6ae shares of treasury stock purchased on ray ie for 562 ser share. Required: Record each of these transoctions. (If no entry is required for a perticular tronsoctionievent, select "No Journal Entry Required" in the first account field.)

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