36 Part 2013 Required information Preparing an Income Statement, Statement of Retained Earnings, and Balance Sheet and Interpreting 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 year of operations (December 31), the following financial data for the company are wailable: 0.6 points book Print Accounts Payable Accounts Receivable Cash Common Stock Dividends Equipment Notes Payable Operating Expenses other Expenses Sales Revenue Supplies $33, see 11,550 14,700 6,490 2,090 93,000 2.040 59,500 7,990 99,60 6,480 References PA1-1 Part 2 2. Prepare a statement of retained earnings for the year ended December 31 HIOM POWER CORPORATION Rotained Earnings, January 1 36 Part 2 of 3 Accounts Payable Accounts Receivable Cash Common Stock Dividends Equipment Notes Payable Operating Expenses Other Expenses Sales Revenue Supplies $33,500 11,650 14,700 69,490 2,898 93,000 2,840 59,800 7.990 99,600 6,400 0.6 points eBook PA1-1 Part 2 2. Prepare a statement of retained earnings for the year ended December 31, Print References HIGH POWER CORPORATION Statement of Retained Earnings Retained Earings, January 1 $ 0 Retained Earnings, December 31