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 26,000 cost of goods sold (food expense) 3,800 Buildings 2,000 Supplies 4,900 Salaries payable $64,700 52,800 34,000 2,800 700 In addition, the company had common stock of $34,000 at the beginning of the year and issued an additional $3,400 during the year. The company also had retained earnings of $17,100 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 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 Accounts payable Buildings Cash Cost of goods sold Total expenses 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 Accounts payable Buildings Cash Cost of goods sold Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the balance sheet for Longhorn Corporation. LONGHORN CORPORATION Balance Sheet Dec. 31, 2021 Assets Liabilities w you or Total liabilities Stockholders' Equity Delivery expense Equipment Retained earnings Salaries expense Salaries payable Total assets Total stockholders' equity Total liabilities and stockholders' equity