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please explain Problem 1-5A (Algo) Prepare financial statements (LO1-3) Island Company provides the following information at the end of 2024. Prepare the income statement for

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Problem 1-5A (Algo) Prepare financial statements (LO1-3) Island Company provides the following information at the end of 2024. Prepare the income statement for Island Company on December 31, 2024. Prepare the statement of stockholders' equity for Island Company on December 31,2024. Prepare the balance sheet for Island Company on December 31, 2024

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