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 22,500 Cost of goods sold (food expense) 3,100 Buildings 2,900 Supplies 5,800 Salaries payable $69,200 53,700 27,000 2,100 800 In addition, the company had common stock of $27,000 at the beginning of the year and issued an additional $2,700 during the year. The company also had retained earnings of $12,400 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 Required 1 Required 2 Required 3 Prepare the income statement for Longhorn Corporation. LONGHORN CORPORATION Income Statement For the year ended Dec. 31, 2021 Expenses: Total expenses 0 LONGHORN CORPORATION Statement of Stockholders' Equity For the year ended Dec. 31, 2021 Common Stock Retained Earnings Total Stockholders' Equity Beginning balance Ending balance LONGHORN CORPORATION Balance Sheet Dec. 31, 2021 Assets Liabilities Total liabilities 0 Stockholders' Equity 0 Total stockholders' equity Total liabilities and stockholders' equity Total assets $ 0 0