'repare the Income Statement, The Statement of Stockholders' Equity and the Balance Sheet using the following ormation. Do not use abbreviations. Visit with your professor during office hours or make an appointment. a. Explain the purpose of each of the three financial statements and the links that dictate the order of preparation. b. Submit your completed financial statements to your professor. rightspace Investments Inc. provides financial services related to investment selections, retirement planning, and general nsurance needs. For the year ended December 31, 2022, the company reports the following amounts: In addition, the company had common stock of $125,000 at the beginning of the year and issued an acouuvivor..25,000 during the year. The company also had retained earnings of $53,000 at the beginning of the year and paid dividends of $7,000. Required: Prepare the Income Statement, the Statement of Stockholders' Equity and the Balance Sheet using the formats covered in class. Expenses on the Income Statement should be listed from the highest expense to the lowest expense. Assets on the balance sheet should be listed from the most liquid asset to the least liquid asset