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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
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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