Oz Company was started when it issued bonds with a $230,000 face value on January 1, Year 1. The bonds were issued for cash at 97. Oz uses the straight-line method of amortization. They had a 20-year term to maturity and an 4 percent annual interest rate. Interest was payable on December 31 of each year. Oz Company immediately purchased land with the proceeds (cash received) from the bond issue. Oz leased the land for $11,500 cash per year. On January 1, Year 4, the company sold the land for $224,100 cash. Immediately after the sale of the land, Oz redeemed the bonds at 98. Assume that no other accounting events occurred during Year 4. Required Prepare an income statement, statement of changes in equity, balance sheet, and statement of cash flows for the Year 1 Year 2 Year 3, and Year 4 accounting periods. Assume that the company closes its books on December 31 of each year. Prepare the statements using a vertical statements format (Hint Record each year's transactions in T-accounts prior to preparing the financial statements.) Complete this question by entering your answers in the tabs below. es Income Statements: Statements of Balance Changes Sheets Statements of Cash Flows Assume that the company closes its books on December 31 of each year. Prepare an income statement for the Year 1, Year 2, Year 3, and Year 4 accounting periods. (Enter amounts to be deducted with a minus sign.) OZ COMPANY Income Statements For the Year Ended December 31 Year 11 Year 2 Year 3 Year 4 S 0 S 0 $ 0 Nonoperating income/expense S 0 $ 05 0 $ 0 Income Statements Statements of Balance Changes Sheets Statements of Cash Flows Assume that the company closes its books on December 31 of each year. Prepare a statement of changes in equity for the Year 1, Year 2, Year 3, and Year 4 accounting periods. (Enter amounts to be deducted with a minus sign.) OZ COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31 Common stock Total stockholders' equity Year 1 Year 2 Year 3 Year 4 0 0 $ 0 $ 0 $ Income Statements Statements of Balance Changes Sheets Statements of Cash Flows Assume that the company closes its books on December 31 of each year. Prepare a balance sheet for the Year 1, Year 2, Year 3, and Year 4 accounting periods. (Enter amounts to be deducted with a minus sign.) OZ COMPANY Balance Sheets As of December 31 Assets Year 1 Year 2 Year 3 Year 4 Total Assets $ 0 $ 0 $ $ Liabilities Total Liabilities Stockholders' equity 0 0 Total liabilities and stockholders' equity $ 0 $ 0 $ 0 $ 0 Year 2, Year 3, and Year 4 accounting periods. (Enter amounts to be deducted with a minus sign.) OZ COMPANY Statements of Cash Flows For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 Cash flows from operating activities: Net cash flow from operating activities Cash flows from investing activities 0 0 Net cash flow from investing activities 0 0 0 Cash flows from financing activities: Net cash flow from financing activities Net change in cash Ending cash balance 0 0 $ 0 $ 0 $ 0 $ 0