ces Required information [The following information applies to the questions displayed below.] 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 Common Stock Dividends Equipment Notes Payable Operating Expenses Other Expenses Sales Revenue Supplies $ 33,400 11,500 14,600 60,390 2,080 92,000 1,970 59,700 7,980 98,400 6,300 2. Prepare a statement of retained earnings for the year ended December 31. HIGH POWER CORPORATION Statement of Retained Earnings Retained Earnings, January 1 Retained Eamings, December 31