Refer to the information in E10€“9. 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, $5,500,000; and Retained Earnings, $3,000,000. Net income for the year ended December 31, 2015, is $700,000.

Required:
Taking into consideration all the transactions recorded in E10€“9, prepare the statement of stockholders€™ equity for Power Drive Corporation for the year ended December 31, 2015, using the format provided.

In E10€“9, 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 Issues 65,000 additional shares of $1 par value common stock for $62 per share.
May 10 Repurchases 6,000 shares of treasury stock for $65 per share.
June 1 Declares a cash dividend of $2.00 per share to all stockholders of record on June 15.
July 1 Pays the cash dividend declared on June 1.
October 21 Reissues 3,000 shares of treasury stock purchased on May 10 for $70 per share.

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POWER DRIVE CORPORATION Statement of Stockholders' Equity For the year ended December 31, 2015 Additional Total Common id-n Retained Treasury Stockholders' Stock Capita Earnings Stock Equity S100,000 $5,500,000 S3,000,000 S $8,600,000 Balance, January 1 Issue common stock Purchase treasury stock Cash dividends Sale of treasury stock Net income Balance, December 31 _