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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 following
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 Equipent Accounts payable Delivery expense Salaries expense $ 1,300 Service revenue 25,500 cost of goods sold (food expense) 3,710 Buildings 1,900 Supplies 4,800 Salaries payable $64,280 52,700 33,00 2,700 900 In addition, the company had common stock of $33.000 at the beginning of the year and issued an additional $3,300 during the year The company also had retained earnings of $16.800 at the beginning of the year. Required: 1. Prepare the income statement for Longhom 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 Required 2 Required 3 Prepare the income statement for Longhorn Corporation LONGHORN CORPORATION Income Statement For the year anded Dec 31, 2021 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 Service revenue Cost of goods sold Expenses Delivery expense Salaries expense 0 Total expenses Net income
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