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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 amounts:



Cash	$	1,200	 	Service revenue	$	67,700
Equipment	 	29,000	 	Cost of goods sold (food expense)	 	53,400
Accounts payable	 	4,400	 	Buildings	 	40,000
Delivery expense	 	2,600	 	Supplies	 	3,400
Salaries expense	 	5,500	 	Salaries payable	 	800


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.