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 Common Stock Dividends Equipment Notes Payable Operating Expenses Other Expenses Sales Revenue Supplies $ 32,800 10,600 14,000 59,790 2,020 86,000 1,550 59,100 7,920 91,200 5,700 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