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

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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: 3-a. Was the company profitable? Yes No 3-b. Which financial statement provides the information regarding profitability? Income Statement Statement of Retained Earnings Balance Sheet Statement of Cash Flows

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