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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: Cash Accounts Receivable Supplies Equipment Accounts Payable Notes Payable Sales Revenue Operating Expenses Other Expenses Contributed Capital Dividends $ 13,300 9,550 5,000 86,000 32,087 1,160 91,000 58,700 8,850. 59,103 1,950 Required: 1. Prepare an income statement for the year ended December 31. HIGH POWER CORPORATION Income Statement For the Year Ended December 31 Expenses Total expenses 0
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