Bensen Company started business by acquiring $25,500 cash from the issue of common stock on January 1. Year 1. The cash acquired was immediately used to purchase equipment for $25,500 that had a $4,300 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 $4,810 cash, Bensen uses straight-line depreciation Year 1 Year 2 Year 3 Year 4 Year 5 Revenue $ 7.570 $ 8,070 $ 0,270 $7,070 $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 Eg Prepare income statements for each of the five years BENSEN COMPANY Income Statement For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 Year 5 0 0 0 0 0 Gain/(Loss) Net income/lons) 0 0 $ $ 0 0 $ $ 0 $ the five years Complete this question by entering your answers in the tabs below. Stmt of Income Statement of Changes in Balance Sheet Statement Cash Flows Stkholders Eq 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 Year 5 0 0 0 Net income/(loss) 0 0 0 0 0 $ 0 0 0 0 $ $ 0 $ S Total stockholders' equity Complete this question by entering your answers in the tabs below. Income Stmt of Statement Changes in Balance Sheet Statement of Stkholders Eq 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 Year 1 Year 2 Year 4 Year 3 Year 5 Assets $ 0 $ 0 $ 0 0 $ 0 $ Total assets Stockholders' Equity $ 0 $ 0 $ 0 $ 0 0 $ Total stockholders' equity Stmt of Income Statement of Changes in Balance Sheet Statement Cash Flows Stkholders Eq Prepare the statements of cash flows for each of the five years. BENSEN COMPANY Statement of Cash Flows Year 1 Year 2 Operating activities: Year 3 Year 4 Year 5 0 0 0 0 Net cash flow from operating activities Investing activities: 0 0 Net cash investing activities Financing activities: 0 0 0 0 0 Net cash flow from financing activities Net change in cash 0 0 0 0 0 0 $ 0 0 $ 0 $ $ 0 $ Ending cash balance