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 Payabile Operating Expenses Other Expenses Sales Revenue Supplies $ 33,000 10,900 14, 200 59,990 2,040 88,000 1,690 59,300 7,940 93,600 5,900 Required: 1. Prepare an income statement for the year ended December 31.

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: Required: 1. Prepare an income statement for the year ended December 31