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Bensen Company started business by acquiring $23,700 cash from the issue of common stock on January 1, Year 1. The cash acquired was immediately used

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Bensen Company started business by acquiring $23,700 cash from the issue of common stock on January 1, Year 1. The cash acquired was immediately used to purchase equipment for $23,700 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 that all revenue transactions are for cash). At the beginning of the fifth year, the equipment was sold for $3.890 cash. Bensen uses straight-ine depreciation. ed s 7,870 8,370 8,570 $7,370 s Revenue Required Prepare income statements, statements of changes in stockholders equity. balance sheets, and statements of cash flows for each of the five years. encesthe Complete this question by entering your answers in the tabs below Stmt of Income Statement Changes in Balance Sheet Statement of Cash Flows Prepare income statements for each of the five years Income Statement For the Year Ended December 31 Year 2 Yeat Year Prey of 2Nex>

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