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4 Problem 1-3A Prepare financial statements (L01-3) 2 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: points Ske.co Cash Equipont Accounts payable Delivery expense Salaries expense . $ 1,400 Service revenue 28,000 cost of goods sold (food expense) 4,200 buildings 2,400 supplies 5,300 salaries payable $66,700 53,200 38,000 3,200 BOO Pre Reference In addition, the company had common stock of $38,000 at the beginning of the year and issued an additional $3,800 during the year. The company also had retained earnings of $18,000 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: Required 2 Required 3 Prepare the statement of stockholders' equity for Longhorn Corporation LONGHORN CORPORATION Sutement of stockholders' MC GEW MacBook Air 4 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. 2. points Complete this question by entering your answers in the tabs below. Skipped Required 1 Required 2 Required 3 eBook Print Prepare the statement of stockholders' equity for Longhorn Corporation. References LONGHORN CORPORATION Statement of Stockholders' Equity For the year ended Dec. 31, 2021 Common Stock Retained Earnings Total Stockholders' Equity 18,000 38,000 $ 18,000 Beginning balance Issuance of common stock 'Add: Net income Ending balance WYMI MUSH 4 3. Prepare the balance sheet for Longhorn Corporation. Complete this question by entering your answers in the tabs below. 2 points Required 1 Required 2 Required 3 Skipped Prepare the balance sheet for Longhorn Corporation eBook LONGHORN CORPORATION Print Balance Sheet References Dec. 31, 2021 Assets Liabilities Total abilities Stockholders' Equity Total assets Total stockholders' equity Total abilities and stockholders equity 0 $ 0 5 0