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es Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,200 Service revenue 27,500 Cost of goods sold (food expense) 4,100 Buildings 2,300 Supplies 5,200 Salaries payable In addition, the company had common stock of $37,000 at the beginning of the year and issued an additional $3,700 during the year. The company also had retained earnings of $17,700 at the beginning of the year. Required: 1. Prepare the income statement for Longhorn Corporation. 2. Prepare the statement of stockholders' equity for Longhorn Corporation. 3. Prepare the balance sheet for Longhorn Corporation. Complete this question by entering your answers in the tabs below. Required 1 Expenses: Required 2 Required 3 Prepare the income statement for Longhorn Corporation. LONGHORN CORPORATION Income Statement For the year ended Dec. 31, 2021 $66,200 53,100 37,000 3,100 700 Prey

Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: In addition, the company had common stock of $37,000 ot the beginning of the year and issued an additional $3,700 during the year. The company also had retained earnings of $17,700 ot the beginning of the year. Required: 1. Prepare the income statement for Longhorn Corporation. 2. Prepare the stotement of stockholders' equity for Longhom Corporation. 3. Prepare the balance sheet for Longhorn Corporation. Complete this question by entering your answers in the tabs below. Prepare the income statement for Longhom Corporation

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