Required Information Preparing an Income Statement, Statement of Retalned 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 $32.1ee 9.550 13.30 59.90 1.95e 86.000 1. 160 58.700 7.85e 90.800 5.899 PA1-2 Part 3 3-a. Was the company profitable? Yes No 3-b. Which financial statement provides the Information regarding profitability? Income Statement Statement of Retained Earnings Balance Sheet Statement of Cash Flows