Business, 07.04.2020 22:48 mkn3347

Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Common Stock, $100,000; Additional Paid-in Capital, $4,500,000; and Retained Earnings, $2,000,000. Net income for the year ended December 31, 2021, is $600,000. Prepare the stockholders' equity section of the balance sheet for Power Drive Corporation as of December 31, 2021.

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