1) Which financial statement shows that financial performance of the company for a specific period of time? a) Statement of Cash Flows b) Statement of Changes in Equity c) Balance Sheet d) Trial Balance e) Income Statement 2) On January 1,2020, BJK Company acquired a machine for $400.000. The estimated useful life of the machine is five years. Residual value at the end of five years is estimated to be $50.000. What is the accumulated depreciation amount for the machine at the end of 2022 (end of third year). If the company uses the straight-line method of depreciation ? a) $210.000 b) $70.000 c) $300.000 d) $140.000 e) $190.000 3) During the closing entries which account is used to close the temporary accounts ? a) Income Summary b) Dividend c) Net Loss d) Net Income e) Retained Earnings