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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: Accounts Payable Accounts Receivable Cash $33,200 11,200 14,400 Common Stock 60,190 Dividends 2,060 Equipment 90,000 Notes Payable 1,830 Operating Expenses 59,500 Other Expenses 7,960 Sales Revenue 96,000 Supplies 6,100 2-a. By how much did cash increase (decrease)? 2-b. Which financial statement would report the business activities responsible for the change in cash? O Income Statement Statement of Retained Earnings Balance Sheet O Statement of Cash Flows

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