me 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 $ 16,250 10,600 5,350 163,000 90,420 1,460 134,000 80,400 10,550 61,500 1,230 Required: 1. Prepare an income statement for the year ended December 31. Expenses Total expenses HIGH POWER CORPORATION Income Statement For the Year Ended December 31 0