Prepare the income statement for Lonahorn Cornoration Prepare the statement of stockholders' equity for Longhorn Corporation. Prepare tne dalance sneet ror Longnorn corporadion. Problem 1-3A (Static) Prepare financial statements (LO1-3) 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 andissued 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 Longhom Corporation. 2. Prepare the statement of stockhoider' equity for Longhorn Corporation 3. Prepare the balance sheet for Longhom Corporation