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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 stockinntidere' equity ln2024. Narch 1 Issues $4,00 additional shares of $1 par value coenon stock for $51 per share. May 10 Purchases 4,900 shares of treasury stock for 554 per share. on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Reselis 2,450 shares of treasury stock purchased on May 10 for 559 per share. Stock, \$100,000; Additional Paid-in Capital, \$4,400,000; and Retained Earning1, \$1,900,000, Net income for the yoar ended December 31,2024 , is $590.000. Required: Prepare the ntatement of stockholders'equity for Power Drve Corporation for the year ended December 31,2024 (Amounts to be deducted should be indicated by a minus sign.) \begin{tabular}{|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{9}{|c|}{ POWER DRIVE CORPORATION } \\ \hline \multicolumn{9}{|c|}{ Statement of Stockholders' Equity } \\ \hline \multicolumn{9}{|c|}{ For the Year Ended December 31, 2024} \\ \hline . & \multicolumn{2}{|c|}{ Common Stock } & \multicolumn{2}{|c|}{\begin{tabular}{l} Additional \\ Paid-in Capital \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{l} Retained \\ Earnings \end{tabular}} & Treasury Stock & \begin{tabular}{l} Total \\ Stockholders' \\ Equity \end{tabular} \\ \hline Balance, January 1 & s & 100,000 & $ & 4,400,000 & $ & 1,900,000 & 0 & 6,400,000 \\ \hline \multicolumn{9}{|l|}{ Issue common stock } \\ \hline \multicolumn{9}{|l|}{ Purchase treasury stock } \\ \hline Declare dividends & & & & & & & & \\ \hline \multicolumn{9}{|l|}{ Payment of cash dividends } \\ \hline \multicolumn{9}{|l|}{ Resell treasury stock } \\ \hline \multicolumn{9}{|l|}{ Net income } \\ \hline Balance, December 31 & & & & & & & & \\ \hline \end{tabular}

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