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	$	1,300		Service revenue	$	71,700
Equipment		20,000		Cost of goods sold (food expense)		54,200
Accounts payable		2,600		Buildings		22,000
Delivery expense		3,400		Supplies		1,600
Salaries Expense		6,300		Salaries payable		900

In addition, the company had common stock of $22,000 at the beginning of the year and issued an additional $2,200 during the year. The company also had retained earnings of $9,400 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 Required 2 Required 3 Prepare the income statement for Longhorn Corporation. LONGHORN CORPORATION Income Statement For the year ended Dec. 31, 2021 Service revenue Cost of goods sold Expenses: Salaries expense Total expenses Required 1 Required 2 Required 3 Prepare the statement of stockholders' equity for Longhorn Corporation LONGHORN CORPORATION Statement of Stockholders' Equity For the year ended Dec. 31, 2021 Total Stockholders' Equity Retained Common Stock Earnings Beginning balance Ending balance LONGHORN CORPORATION Balance Sheet Dec. 31, 2021 Assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity C Total liabilities and stockholders' equity S C Total assets