3 Island Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2024, the company reports the following amounts: 33.34 Cash Equipment Accounts payable Delivery expense Rent expense $1,300 Service revenue 23,000 Salaries expense 3,200 2,800 Buildings Supplies 5,700 Salaries payable $68,700 53,600 28,000 2,200 500 In addition, the company had common stock of $28,000 at the beginning of the year and issued an additional $2.800 during the year The company also had retained earnings of $13,000 at the beginning of the year. Required: 1. Prepare the income statement for Island Corporation. 2. Prepare the statement of stockholders' equity for Island Corporation. 3. Prepare the balance sheet for Island Corporation. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the income statement for Island Corporation. ISLAND CORPORATION Income Statement For the year ended December 31, 2024 Sanvice revenue Expenses save&t Submit Check my work 0:35:57 Book Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the income statement for Island Corporation. ISLAND CORPORATION Income Statement For the year ended December 31, 2024 Service revenue Print Expenses: Delivery expense erences Rent expense Salaries expense Total expenses Net income 0 $ 0 00:35:42 eBook Print Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the statement of stockholders' equity for Island Corporation. ISLAND CORPORATION Statement of Stockholders' Equity For the year ended December 31, 2024 Common Retained eferences Stock Earnings Total Stockholders Equity Beginning balance $ 28,000 $ 13,000 $ 41,000 Issuance of common stock 2,800 2,800 Add: Net income 6,600 6,600 Ending balance $ 30,800 $ 19,600 $ 50,400 B Required 1 Required 2 Required 3 00:35:20 Prepare the balance sheet for Island Corporation. ISLAND CORPORATION Balance Sheet December 31, 2024 Book Print Cash Supplies Equipment Buildings erences Assets Liabilities Accounts payable Salaries payable Total liabilities 0 Stockholders' Equity Common stock Retained earnings Total stockholders' equity 0 Total assets $ 0 Total liabilities and stockholders' equity $ 0