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 27.000 cost of goods sold (food expense) 4.000 Buildings 2,200 Supplies 5,100 salaries payable $65,700 53,000 36,000 3,000 900 In addition, the company had common stock of $36,000 at the beginning of the year and issued an additional $3,600 during the year. The company also had retained earnings of $17,400 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 Prepare the statement of stockholders' equity for Longhorn Corporation LONGHORN CORPORATION 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 $ 65,700 Expenses: Cost of goods sold Salaries expense Delivery expense $ 53,000 5,100 2,200 Total expenses Net income 60,300 5,400 $ Required 1 Required 2 > Complete this question by entering your answers in the tabs below. 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 Common Stock Retained Earnings Total Stockholders Equity Beginning balance Ending balance Required 1 Required 2 Required 3 Prepare the balance sheet for Longhorn Corporation. LONGHORN CORPORATION Balance Sheet Dec. 31, 2021 Assets Liabilities Cash Equipment Buildings Supplies Accounts payable Salaries payable Total liabilities Stockholders' Equity 0 Total assets Total stockholders' equity Total liabilities and stockholders' equity 0 $ 0