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 $ 33,600 11,800 14,800 60,590 2,100 94,000 2,119 59,900 8,000 100,800 6,500 Chp 1-2013 Fall.pptx 13 1. Prepare an income statement for the year ended December 31. HIGH POWER CORPORATION Income Statement For the Year Ended December 31 24:23 $ 0 lol 0