Homework Saved Help Save & Exit Submit Check my work neyuncu HLUT Preparing an Income Statement, Statement of Retained Earnings, and Balance Sheet and Interpreting the Financial Statements [LO 1-2, LO 1-3] (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 $ 33,900 12,250 15, 100 60, 890 2, 130 97,000 2320 60, 200 8,030 104,400 6,800 PA1-1 Part 1 Required: 1. Prepare an income statement for the year ended December 31. III c PA1-1 Part 1 Required: 1. Prepare an income statement for the year ended December 31. HIGH POWER CORPORATION Income Statement For the Year Ended December 31 Revenues