Accounts Payable	$	32,100
Accounts Receivable		9,550
Cash		13,300
Common Stock		59,090
Dividends		1,950
Equipment		86,000
Notes Payable		1,160
Operating Expenses		58,700
Other Expenses		7,850
Sales Revenue		90,000
Supplies		5,000

Assume that 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:

Required: 1. Prepare an income statement for the year ended December 31 HIGH POWER CORPORATION Income Statement Revenues Sales Revenue Total Revenues Expenses Other Expenses Operating Expenses Total Expenses Net Income