value 2.50 points Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year, the company reports the following amounts S 1,200 Service revenue Cash Equipment Accounts payable Delivery expense Salaries expense S 67,700 53,400 0,000 3,400 800 29,000 Cost of goods sold (food expense) ,400 Buildings 2,600 Supplies 5,500 Salaries payable 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. LONGHORN CORPORATION Income Statement Expenses