Required information [The following information applies to the questions displayed below.] Assume you are the president...

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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 HIGH POWER CORPORATION Income Statement 0 $ 33,700 11,950 14,900 60,690 2,110 0 95,000 2,180 Required: 1. Prepare an income statement for the year ended December 31. 60,000 8,010 102,000 6,600 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 HIGH POWER CORPORATION Income Statement 0 $ 33,700 11,950 14,900 60,690 2,110 0 95,000 2,180 Required: 1. Prepare an income statement for the year ended December 31. 60,000 8,010 102,000 6,600

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