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 Cash Common Stock Dividends Equipment Notes Payable Operating Expenses Other Expenses Sales Revenue Supplies $32. 160 9.550 13.300 59.99 1.95e 86,880 1.169 58.789 7.85e ge.se 5.080 PA1-2 Part 1 Required: 1-a. Is the company financed mainly by creditors or stockholders? Creditors Stockholders 1b. Which financial statement provides the Information regarding the source of financing? Income Statement Statement of Retained Earnings Balance Sheet Statement of Cash Flows