The following information applies to the questions displayed below.] Assume that you are the president of APEC Aerospace 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 $34,230 10,600 15,000 11,100 1,400 90,000 52,870 71,000 9,400 109,300 10,100 value: 5.00 points Required 1. Prepare an income statement for the year ended December 31. APEC AEROSPACE CORPORATION Income Statement For the Year Ended December 31 Revenues Sales Revenue $ 109,300 Total Revenues 109,300 Expenses Operating Expenses Other Expenses 71,000 9,400 80,400 $28,900 Total Expenses Net Income