Bensen Company started business by acquiring $25,800 cash from the issue of common stock on January 1, Year 1. The cash acquired was immediately used to purchase equipment for $25,800 that had a $4,200 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 $4,640 cash. Bensen uses straight-line depreciation. Revenue Required Year 1 $7,740 Year 2 $8,240 Year 3 $8,440 Year 4 $7,240 Year 5 $0 Prepare income statements, statements of changes in stockholders' equity, balance sheets, and statements of cash flows for each of the five years. Present the statements in the form of a vertical statements model. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Statement of Changes in Balance Sheet Cash Flows Stkholders Eq Prepare income statements for each of the five years. Present the statements in the form of a vertical statements model. BENSEN COMPANY Income Statement For the Year Ended December 31 Year 1 Year 2 Year 31 Year 4 Year 5 0 0 0 0 0 Gain/(Loss) Net income/(loss) $ 0 $ 0 $ 0 $ 0 $ Stmt of Changes in Stkholders Eg >