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: Accounts payable $32,100 Accounts Receivable 9.550 Cash 13,300 Common Stock 59,090 Dividends 1,950 Equipment 86, ooo Notes Payable 1,160 Operating Expenses 58,700 other Expenses 7,850 Sales Revenue 90,000 Supplies 5,000 value: 2.oo points Required 1. Prepare an income statement for the year ended December 31 HIGH POWER CORPORATION Income Statement