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Please help me with this scenario: Assume you are the president of High Power Corporation. At the end of the first year of operations (December
Please help me with this scenario:
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 $33,000Accounts Receivable10,900Cash14,200Common Stock59,990Dividends2,040Equipment88,000Notes Payable1,690Operating Expenses59,300Other Expenses7,940Sales Revenue93,600Supplies5,900
- an income statement for the year ended December 31.
- a statement of retained earnings for the year ended December 31.
- a balance sheet at December 31.
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