onnect Assignment Seved 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 $ 32,900 Accounts Receivable Cash 10,750 14,100 Common Stock 59,890 Dividends 2,030 Equipment 87,000 Notes Payable 1,620 Operating Expenses 59,200 Other Expenses 7,930 Sales Revenue 92,400 Supplies 5,800 Required: 1. Prepare an income statement for the year ended December 31. HIGH POWER CORPORATION Income Statement