Problem 1-3A Prepare financial statements (L01-3) 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 27,5ee Cost of goods sold (food expense) 4,100 Buildings 2,300 Supplies 5,200 Salaries payable 566,200 $3,100 37.000 3,100 700 In addition, the company had common stock of $37.000 at the beginning of the year and issued an additional $3.700 during the year The company also had retained earnings of $17,700 at the beginning of the year Prepare the balance sheet for Longhorn Corporation. LONGHORN CORPORATION Balance Sheet Dec. 31, 2021 Assets Liabilities Accounts payable Cash Supplies Total liabilities 0 Stockholders' Equity 0 Total stockholders equity Total liabilities and stockholders' equity $ 0 Total assets S 0