Bensen Company started business by acquiring $24.400 cash from the issue of common stock on January 1, Year 1. The cash acquired was immediately used to purchase equipment for $24,400 that had a $3,200 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 $3.790 cash. Bensen uses straight-line depreciation Year 1 Revenue Year 2 Year 3 $ 8,100 $ 8,300 Year4 $ 7,100 Year 5 SO Required Prepare income statements, statements of changes in stockholders' equity, balance sheets, and statements of cash flows for each of the five years Answer is not complete Complete this question by entering your answers in the tabs below. Income Stmt of Statement of Changes in Barce Statement Sheet Cash Flows Stkholders Eq Balance Sheet Prepare the balance sheets for elve years. (Amounts to be deducted should be indicated by a minus sign.) BENSEN COMPANY Balance Sheet Year 1 Year 2 Year 3 Year 4 Yoar 5 Assets Cash Equipment Armut deoreciation 30 WUNCTURCOTTER work you have completed so far, it does not indicate completion 1 Answer is not complete Complete the question by entering your newers in the tabs below. Balance She Cash Flow Income Statement Changes statement of Stkholder Prepare the balance sheets for each of the five years. (Amounts to be deducted should be indicated by a mission> NEW COMPANY Year! Yeart Ass Cash ooo Equipment Les Accumulated depreciation Totalsts Stockholders' Equity 0 s 0 $ $ 0 0 Total sholder equity 0 0 is 0 0 5 0 1 Income Stmt of Statement Statement of Changes in Balance Sheet Cash Flows Stkholders to Prepare the statements of cash flows for each of the five years. DENON COMPANY Statment of Cash Flow Year 1 Year 2 Your Year Operating activities Inflow from customers $ $ 500 2,300 $ 5,300 $ 7,600 2,800 $ 5,300 8,100 3,000 $ 5,300 $ 8,300 1.800 $ 5,300 $ 7,100 (590) 0 Net cash flow from operating activities Investing activities: Paid for equipment Sale of equipment $ (24,400) $ 3,790 (24.400 0 0 O 3,790 Net cash investing activities Financing activities inflow from stock issue 0 0 0 8,100 Net cash flow from financing activities Net change in cash Less: Beginning cash balance Ending cash balance (16,800) 0 8,300 0 3.790 7.100 $ (16,800) $ 8.100 $ 8,300 $ 7.100 $ 3,790