Accounts Payable Accounts Receivable Cash Common Stock $ 33,100 11,050 14,300 60,090 Dividends 2,050 Equipment 89,000 Notes Payable 1,760 Operating Expenses 59,400 Other Expenses 7,950 Sales Revenue 94,800 Supplies 6,000 Required: 1. Prepare an income statement for the year ended December 31. HIGH POWER CORPORATION Income Statement For the Year Ended December 31 Sales Revenue Total Expenses $ 94,800 94,800 0