We present RadioAstron Space VLBI imaging observations of the BL Lac object S5 0716+71 made on January 3-4 2015 at a frequency of 22 GHz (wavelength $\lambda=1.3$ cm). The observations were made in the framework of the AGN Polarization Key Science Program. The source was detected on projected space-ground baselines up to 70 833 km (5.6 Earth diameters) for both, parallel hand and cross-hand interferometric visibilities. We have used these detections to obtain a full-polarimetric image of the blazar at an unprecedented angular resolution of 24 $\mu$as, the highest for this source to date. This enabled us to estimate the size of the radio core to be $2.2\times10^{13}$ K for the blazar core. This implies that the inverse Compton limit must be violated in the rest frame of the source, even for the largest Doppler factor $\delta\thicksim25$ reported for 0716+714.