Assume you are the president of High Power Corporation. At the end of the first...
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Accounting
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
$ 32,800
Accounts Receivable
10,600
Cash
14,000
Common Stock
59,790
Dividends
2,020
Equipment
86,000
Notes Payable
1,550
Operating Expenses
59,100
Other Expenses
7,920
Sales Revenue
91,200
Supplies
5,700
Required:
Prepare an income statement for the year ended December 31.
