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Problem 1-5A (Algo) Prepare financial statements (LO1-3) Island Company provides the following information at the end of 2024. No common stock is issued during 2024. Required: 1. Prepare the income statement for isiand Company on December 31,2024. 2. Prepare the statement of stockholders' equity for island Company on December 31, 2024. 3. Prepare the balance sheet for Island Company on December $1,2024. Complete this question by entering your answers in the tabs below. Prepare the income statement for 1siand Company on December 31, 2024. Prepare the statement of stockholders' equity for Island Company on December 31, 2024. Prepare the balance sheet for Isiand Company on December 31, 2024. Complete this question by entering your answers in the tabs below. Prepare the income statement for Isiand Company on December 31,2024