financial accounting

Assignment A.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 $ 34,000   Accounts Receivable   12,400   Cash   15,200   Common Stock   60,990   Dividends   2,140   Equipment   98,000   Notes Payable   2,390   Operating Expenses   60,300   Other Expenses   8,040   Sales Revenue   105,600   Supplies   6,900     Required:  1.Prepare an income statement for the year ended December 31. B.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 $ 34,000   Accounts Receivable   12,400   Cash   15,200   Common Stock   60,990   Dividends   2,140   Equipment   98,000   Notes Payable   2,390   Operating Expenses   60,300   Other Expenses   8,040   Sales Revenue   105,600   Supplies   6,900     2.Prepare a statement of retained earnings for the year ended December 31. C.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 $ 34,000   Accounts Receivable   12,400   Cash