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Bensen Company started business by acquiring $27,900 cash from the issue of common stock on January 1, Year 1 . The cash acquired was immediately used to purchase equipment for $27,900 that had a $4,700 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 $5,140 cash. Bensen uses straight-line depreciation. Required Prepare income statements, statements of changes in stockholders' equity, balance sheets, and statements of cash flows for each of the five years. Present the statements in the form of a vertical statements model. Required Prepare income statements, statements of changes in stockholders' equity, balance sheets, and statements of cash flows for each of the five years. Present the statements in the form of a vertical statements model. Complete this question by entering your answers in the tabs below. repare income statements, statements of changes in stockholders' equity, balance sheets, and statements of cash flows for each o he five years. Present the statements in the form of a vertical statements model. Complete this question by entering your answers in the tabs below. Prepare the statements of changes in stockholders' equity for each of the five years. Present the statements in the form of a vertical statements model. Prepare income statements, statements of changes in stockholders' equity, balance sheets, and statements of cash flows for each of he five years. Present the statements in the form of a vertical statements model. Complete this question by entering your answers in the tabs below. Prepare the balance sheets for each of the five years. Present the statements in the form of a vertical statements model. (Amounts to be deducted should be indicated by a minus sign.) Prepare the statements of cash flows for each of the five years. Present the statements in the form of a vertical statements model. (Amounts to be deducted should be indicated by a minus sign.)

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