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Power Drive Corporation designs and produces a line of golf equipment and goll 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 Issues 61.000 additional shares of $1 par value common stock for $58 per share, May 10 Repurchases 5,600 shares of treasury stock for $61 per share. June 1 Declares a cash dividend of $1.80 per share to all stockholders of record on June 15 (Hint Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Reissues 2,800 shares of treasury stock purchased on May 10 for $66 per share. 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, $5,100,000, and Retained Earnings. $2,600,000. Net income for the year ended December 31, 2015, is $660,000. 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 Common Stock Paid-in Capital Additional Retained Earnings $ 100,000 $ 5,100,000 $ 2,600,000 Treasury Stock Total Stockholders Equity $ 7,800,000 $ 0 Balance, January 1 Issue common stock Purchase treasury stock Cash dividends Sale of treasury stock Net income Balance, December 31 LAN LULU / TI TUL TIT TIT TI / / / D

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