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Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year, the company reports the following amounts:
Longhorn Corporation provides low-cost food delivery services to senior citizens.
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:
Prepare the income statement, statement of stockholders€™ equity, and balance sheet for LonghornCorporation.
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