Prepare an income statement for the year ended December 31

[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 $ 33,600 11,800 14,800 60,590 2,100 94,000 2,110 59,900 8,000 100,800 6,500 Required: 1. Prepare an income statement for the year ended December 31. HIGH POWER CORPORATION Income Statement