! Required information [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 $33,200 11,200 14,400 Common Stock 60,190 Dividends 2,060 Equipment 90,000 Notes Payable 1,830 Operating Expenses 59,500 Other Expenses 7,960 Sales Revenue 96,000 Supplies 6,100 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 $