Bensen Company started business by acquiring $60,000 cash from the issue of common stock on January 1, year 1. The cash acquired was immediately used to purchase equipment for $50,000 that had a $10,000 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 $8,800 cash. Bensen uses straight-line depreciation. Year 5 Revenge Year 1 $ 26, 100 Year 2 $ 28,500 Year 3 $ 32,000 Year 4 $ 31,300 $ 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. Income Statement Stmt of Changes in Balance Sheet Stkholders Eq Statement of Cash Flows 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 Gain/(Loss) Not income/(loss) $ 0 0 0 $ 0 $ 0 Stmt of Changes in Stkholders Eq > Complete this question by entering your answers in the tabs below. Income Stmt of Changes in Balance Sheet Statement of 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 Endod December 31 Year 1 Year 2 Year 3 Year 4 Year 5 0 0 0 Net income/loss) 0 0 0 0 Total stockholders' equity S 0 os 0 S 0 $ 0 $ 0 Income Statement Balance Sheet Stmt of Income Statement Changes in Statement of Balance Sheet Stkholders Eq Cash Flows Prepare the balance sheets for each of the five years. (Amounts to be deducted should be indicated by a minus slgn.). DENSEN COMPANY Balance Shoot Yoar 1 Yoar 2 Year 3 Yoar 4 Yoar 5 Assets 0 Total assets Stockholders' Equity $ 0$ 0 $ 0 0 Total stockholders' equity S $ S 0 $ 0 0 Stmt of Income Statement of Statement Changes in Balance Sheet Cash Flows Stkholders Eq Prepare the statements of cash flows for each of the five years. (Amounts to be deducted should be indicated by a minus sig BENSEN COMPANY Statement of Cash Flows Year Year 2 Year 3 Year 4 Yoar 5 Operating activities: 0 0 0 Net cash flow from operating activities Investing activities: 0 0 0 Net cash investing activities Financing activities: 0 0 0 Net cash flow from financing activities Net change in cash 0 0 0 0 0 0 Ending cash balance $ 0 s 0 $ 0 S $ 0