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Bensen Company started business by acquiring $24,300 cash from the issue of common stock on January 1, Year 1. The cash acquired was immediately used to purchase equipment for $24 300 that had a $3,100 salvage value and an expected useful life of four years. The equipment was used to produce the following revenue stream (assume that all revenue transactions are for cash). At the beginning of the fifth year, the equipment was sold for $3,620 cash Bensen uses straight-line depreciation Year 1 Year 2 Year 3 Year 4 Year 5 Revenue $7,840 $8,340 $8,540 $ 7,340 $ 0 Required Prepare Income statements, statements of changes in stockholders' equity, balance sheets, and statements of cash flows for each of the five years Complete this question by entering your answers in the tabs below. Income Semt of Statement Changes in Balance Sheet Statement of Sticholders Eq Cash Flows Prepare income statements for each of the five years. BENSEN COMPANY Income Statement For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 Year 5 Income Stmt of Statement Changes in Balance Sheet Statement of Cash Flows Stkholders Eg Prepare income statements for each of the five years. BENSEN COMPANY Income Statement For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 Year 5 Gain/(Loss) on sale of asset Net income (105) Home Statement Stmt of Changes in Stkholders Eq > Balance Sheet Statement of Income Stmt of Changes in Statement Stkholders Eq Cash Flows Prepare the statements of changes in stockholders' equity for each of the five years. BENSEN COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 Year 5 Net income (loss) Total stockholders' equity + Income Statement Balance Sheet > Income Stmt of Changes in Balance Sheet Statement of Statement Stkholders Eq Cash Flows Prepare the balance sheets for each of the five years. (Amounts to be deducted should be indicated by a minus sign BENSEN COMPANY Balance Sheet Year 1 Year 2 Year 3 Year 4 Assets Year 5 Total assets Stockholders' Equity Total stockholders' equity BENSEN COMPANY Statement of Cash Flows Year 1 Year 2 Year 3 Year 4 Year 5 Operating activities: Net cash flow from operating activities Investing activities Net cash flow from investing activities Financing activities Net cash flow from financing activities Net change in cash + Ending cash balance

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