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How do I calculate retained earnings in the balance sheet?

Sud Chapter 1 Homework 14 Longhom Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31 203t the company reports the following amounts: 01 points Cash Equipment Accounts payable Delivery expense Salaries expense $1,200 Service revenue 29,000 cost of Boods sold (food expense) 4,60 Buildings 2,6 Supplies 5.500 salaries payable $67,780 53,400 40,000 3,400 Pre In addition, the company had common stock of $40,000 at the beginning of the year and issued an additional $4.000 during the year The company also had retained earnings of $18.200 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 lo Complete this question by entering your answers in the tabs below. Required Regated 2 Reguda Prepare the balance sheet for Langion Corporation LONGHORN CORPORATION Desat, 2021 Labs Ases C Chapter 1 Homework i FOTO 14 Prepare the balance sheet for Longhom Corporation, 01 points LONOHORN CORPORATION Balance Sheet Dec 31, 2021 Assets Liabilises $ 4.400 800 Cash Supplies opment Buildings 1200 Accounts payable 3.400 ans payable 20.000 40.000 Print 5.200 stockholders' Equity Reference 44000 Common stock Heredeiros Total stockholders Tocal and stories outy 44.000 19 200 Toat 573000 Required 2

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