3 part question

Preparing an Income Statement, Statement of Retained Earnings, an the Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] Assume you are the president of High Power Corporation. At the end of the first 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 $33,000 10,900 14,200 59,990 2,040 88,000 1,690 59,300 7,940 93,600 5,900 1. Prepare an income statement for the year ended December 31. HIGH POWER CORPORATION Income Statement For the Year Ended December 31 Expenses Operating Expenses w 0 0 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 $ 3. Prepare a balance sheet at December 31. HIGH POWER CORPORATION Balance Sheet $ 0 0