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 24,500 Cost of goods sold (food expense) 3,500 Buildings 1,700 Supplies 4.600 Salaries payable $63,209 52.500 31,000 2.500 700 In addition, the company had common stock of $31.000 at the beginning of the year and issued an additional $3.100 during the year The company also had retained earnings of $16.500 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 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 24,500 Cost of goods sold (food expense) 3.500 Buildings 1.200 Supplies 4.600 Salaries payable $63,20 52.500 31,000 700 In addition, the company had common stock of $31,000 at the beginning of the year and issued an additional $3,100 during the year The company also had retained earnings of $16,500 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