On January 1, Year 2, LCJ Rental Cars purchased a car that is to be used to produce rental income. The car cost $35,000. It has an expected useful life of five years and a $5,000 salvage value. The car produced rental income of $ ife. Assume LCJ started the Year 2 accounting period with a beginning cash balance of $40,000 Required a-1. Prepare an income statement and a statement of cash flows for Year 2 9,000 per year throughout its useful a-2. Prepare an income statement and a statement of cash flows for Year 3 a-3. Prepare an income statement and a statement of cash flows for Year 4. b. Determine the book value of the car for Year 2, Year 3, and Year 4 Complete this question by entering your answers in the tabs below Required A1 Required A2 Stmt of Cash Inc Stmt Required A2 Required A3 stmt of Cash Required A3 Required A1 Stmt of Cash Inc Stmt Inc Stmt Flows Flows Prepare an income statement for Year 2. LCJ RENTAL CARS Income Statement For the Year Ended December 31, Year 2 Required A1 Stnt of Cash Flows