Bensen Company started business by acquiring $24,100 cash from the issue of common stock on January 1, Year 1. The cash acquired was immediately used to purchase equipment for $24,100 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 $3,740 cash. Bensen uses straight-line depreciation. Year 1 $ 7,590 Year 2 $ 8,090 Year 3 $ 8,290 Year 4 $ 7,090 Revenue Year 5 $ 0 Required Prepare income statements, statements of changes in stockholders' equity, balance sheets, and statements of cash flows for each of the five years. Complete this question by entering your answers in the tabs below. Stmt of Income Statement of Statement Changes in Balance Sheet Cash Flows Stkholders Eq Prepare income statements for each of the five years. BENSEN COMPANY Income Statement For the Year Ended December 31 Year 1 Year 2 Yoar 3 Yaar 4 Year 5 0 0 0 0 0 Gain/(Loss) Net income/loss) $ 0 S 0 $ 0 $ 0 $ 0 Stmt of Changes in Stkholders Eq Complete this question by entering your answers in the tabs below. Strat of Income Changes in Balance Sheet Statement of Statement Stkholders Eq Cash Flows Prepare the statements of changes in stockholders' equity for each of the five years. BENSEN COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31 Year 1 Year 2 Year 3 Yoar 4 Yoar 5 0 0 0 0 0 Net income (loss) 0 Total stockholders' equity 0 0 $ 0 0 $ $ 0 0 0 0 $ $ 0 Stmt of Income Statement of Statement Changes in Balance Sheet Stkholders El Cash Flows Prepare the balance sheets for each of the five years. (Amounts to be deducted should be indicated by a minus sign.) BENSEN COMPANY Balance Sheet Yoar 1 Year 2 Yoar 3 Yoar 4 Year 5 Assets $ 0 $ 0 0 $ 0 $ 0 Total assets Stockholders' Equity Total stockholders' equity $ 0 $ 0 S 0 S 0 Na - Chec SLGLETTIEHIL Stkholders Eq Lasit RIUWS Prepare the statements of cash flows for each of the five years. BENBEN COMPANY Statement of Cash Flows Year 1 Yonr 2 Yoar 3 Your 4 Year 5 Operating activitios: 0 0 0 0 0 Net cash flow from operating activities Investing activities: 0 0 0 0 0 Net cash investing activities Financing activities: 0 0 0 0 Net cash flow from financing activities Net change in cash Oo 0 0 0 0 0 Ending cash balance $ 0 S 0 $ 0 $ 0 $