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Bensen Company began operations when it acquired $ 2 7 , 5 0 0 cash from the issue of common stock on January 1 ,
Bensen Company began operations when it acquired $ cash from the issue of common stock on January Year The cash acquired was immediately used to purchase equipment for $ that had a $ salvage value and an expected useful life of four years. The equipment was used to produce the following revenue stream assume all revenue transactions are for cash At the beginning of the fifth year, the equipment was sold for $ cash. Bensen uses straightline depreciation.
Year Year Year Year Year
Revenue $ $ $ $ $
Required
Prepare income statements, statements of changes in stockholders equity, balance sheets, and statements of cash flows for each of the five years.
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