(Solved): Need help Problem 1-3A (Algo) Prepare financial statements (LO1-3) Blue Lagoon Corporation provides ...

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Problem 1-3A (Algo) Prepare financial statements (LO1-3) Blue Lagoon 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: In addition, the company had common stock of \( \$ 31,000 \) at the beginning of the year and issued an additional \( \$ 3,100 \) during the year. The company also had retained earnings of \( \$ 16,500 \) at the beginning of the year. Required: 1. Prepare the income statement for Blue Lagoon Corporation. 2. Prepare the statement of stockholders' equity for Blue Lagoon Corporation. 3. Prepare the balance sheet for Blue Lagoon Corporation. Prepare the income statement for Blue Lagoon Corporation. Prepare the statement of stockholders' equity for Blue Lagoon Corporation. Prepare the balance sheet for Blue Lagoon Corporation.