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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
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. $1,300 Service revenue $68,700. 23.000 Cost of goods sold (tood expense) $3.600 3,200 Buildings 28,000 2,800 Supplies 2,200 5,700 Salaries payable 900 In addition, the company had common stock of $28,000 at the beginning of the year and issued an additional $2,800 during the year. The company also had retained earnings of $13,000 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.
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