Required information Preparing an Income Statement, Statement of Retalned 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 $32. 160 9.55e 13,30 59.90 1.95e 86.000 1. 160 58.700 7.85e 90.000 5.89 PA1-1 Part 3 3. Prepare a balance sheet at December 31. HIGH POWER CORPORATION Balance Sheet