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Bensen Company began operations when it acquired $26,500 cash from the issue of common stock on January 1, 2018. The cash acquired was immediately used

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Bensen Company began operations when it acquired $26,500 cash from the issue of common stock on January 1, 2018. The cash acquired was immediately used to purchase equipment for $26,500 that had a $3,300 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 $3,810 cash. Bensen uses straight-line depreciation. Revenue $7,400 $7,900 $8,100 $6,900 $0 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. (Statement of Cash Flows and Balance Sheet only: ltems to be deducted must be indicated with a minus sign) BENSEN COMPANY For the Year Ended December 31 Income Statement 2018 2019 2020 2021 2022 Gain/(Loss) Net income/(loss) Lr

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