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Bensen Company began operations when it acquired $26,700 cash from the issue of common stock on January 1 , Year 1 . The cash acquired

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Bensen Company began operations when it acquired $26,700 cash from the issue of common stock on January 1 , Year 1 . The cash acquired was immediately used to purchase equipment for $26,700 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 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 fiows for each of the five years. Answer is not complete. 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. (Amounts to be deducted and losses. should be indicated by a minus sign.) Answer is not complete. 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. (Amounts to be deducted and losses should be indicated by a minus sign.)

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