Shown below are the account balances for BingGrow Corporation for their year-end December 31, 2022:
Cash $ 10,475
Accounts receivable 16,640
Inventory 98,220
Building 188,600
Accumulated depreciation—building 72,600
Accounts payable 9,400
Income taxes payable 5,450
Common shares 154,525
Retained earnings, beginning 40,720
Dividends declared 7,500
Sales revenue 265,000
Cost of goods sold 143,600
Salaries and wages expense 56,900
Depreciation expense 12,850
Utilities expense 3,300
Supplies expense 1,970
Income taxes expense 7,640
During the year, on June 1, 2022, BingGrow issued $25,000 of common shares to new investors.

Requirements:
Given the above information, prepare formal financial statements (use proper headings, formatting, etc)
for the:
1. the income statement,
2. the statement of changes in equity, and
3. the classified balance sheet for BingGrow Corporation
4. Are the individual financial statements that you prepared above connected to one another or are they independent form one another and not related to one another? Briefly explain your answer.