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Answer all of these, please Required information Preparing an Income Statement, Statement of Retained Earnings, and Balance Sheet and Interpreting the Financial Statements [LO 1-2,

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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 Accounts Receivable $32,100 9,550 13,300 59,090 1,950 86,000 1,160 58,700 7,850 90,eee 5,e00 Cash Common Stock Dividends Equipment Notes Payable Operating Expenses Other Expenses Sales Revenue Supplies PA1-2 Part 2 2-a. By how much did cash increase (decrease)? Answer is not complete. HIGH POWER CORPORATION Income Statement For the Year Ended December 31 Revenues $ 90,000 Sales Revenue 90,000 Total Revenues Expenses 58,700 Operating Expenses 7,850 Other Expenses Total Expenses 66,550

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