Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2024, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Rent expense $1,200 Service revenue 29,000 Salaries expense 4,400 Buildings 2,600 Supplies 5,500 Salaries payable $67,700 53,400 40,000 3,400 800 In addition, the company had common stock of $40,000 at the beginning of the year and issued an additional $4,000 during the year. The company also had retained earnings of $18,200 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 31,2024 , the company reports the following amounts: In addition, the company had common stock of $40,000 at the beginning of the year and issued an additional $4,000 during the year. The company also had retained earnings of $18,200 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 bolance sheet for Longhorn Corporation