Required Information Preparing an Income Statement, Statement of Retained Earnings, and Balance Sheet and Interpreting the Financlal 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 Common Stock Dividends Equipment Notes Payable Operating Expenses Other Expenses Sales Revenue Supplies $32.1ee 9.550 13,300 59.ee 1,950 86,600 1. 160 58.789 7,85e 9e, 880 5,880 PA1-1 Part 2 2 Prepare a statement of retained earnings for the year ended December 31. HIGH POWER CORPORATION Statement of Retained Earnings Retained Earnings January 1 Retained Earnings. December 31