0 Required information Preparing an Income Statement, Statement of Retained Earnings, and Balance Sheet and Interpreting the Financial Statements [LO 1-2, LO 1-3) The following information applies to the questions displayed below.) Assume you are the president of High Power Corporation. At the end of the first year of operations (December 31), the following financial data for the company are available: Accounts Payable $ 32,100 Accounts Receivable 9.550 Cook 13,300 Common Stock 59,090 Dividendo 1,950 Equipoent 36,000 Notes Payable 1,160 Operating Expenses 58,700 Other Expenses 7,850 Dale Revenue 90.000 Supplies 5,000 PA1-1 (Static) Part 1 Required: 1. Prepare an income statement for the year ended December 31. HIGH POWER CORPORATION Income Statement For the Year Ended December 31 Revenues 0 Total Revenues Expenses Operating Expenses Other Expenses Total Expenses Net Income 0