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Power Drive Corporation designs and produces a line of golf equipment...

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Accounting

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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 . March 1 Issues 62,000 additional ahares of $1 par value comnon stock for $59 per ahare. May 10 Purchases 5,700 shares of treasury stock for $62 per share. June 1 Declares a eash dividend of $1. 85 per share to all stockholders of record on June 15 . (Hifti, Dividends are not paid on treasury stock.) July 1 Pays the cas dividend declared on Jane 1. october 21 Resells 2,850 shares of tressury stock purchased on kay 10 for $67 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, \$5,200,000; and Retained Earnings, \$2,700,000, Net income for the year ended December 31, 2024 , is $670,000. Required: 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.)

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