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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: 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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