Assume you are the president of High Power Corporation . At the end of rhe year of operations (December 31), the following financial data for the company are available

Required information [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: $32,100 9,550 13,300 Accounts Payable Accounts Receivable Cash Common Stock Dividends Equipment Notes Payable Operating Expenses Other Expenses Sales Revenue Supplies 1,950 86,000 1,160 58,700 7,850 99,90 5,000 Required: Required: 1. Prepare an income statement for the year ended December 31. HIGH POWER CORPORATION Income Statement