Bensen Company began operations when it acquired $26,700 cash from the issue of common stock on January 1, 2018. The cash acquired was immediately used to purchase equipment for $26,700 that had a $3,500 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 $2,300 cash. Bensen uses straight-line depreciation.

	2018	2019	2020	2021	2022
Revenue	$7,880	$8,380	$8,580	$7,380	$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: Items 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)
Satement of Changes in Stockholders' Equity
Net income/(loss)
Total stockholder's equity
Balance Sheet
Assets
Total assets
Stockholder's Equity
Total stockholder's equity
Statement of Cash Flows
Operating activities:
Net cash flow from operating activities
Investing activities:
Net cash investing activities
Financing activities:
Net cash flow from financing activities
Net change in cash
Ending cash balance