+ Parts Required information The following information applies to the questions is below! Benson Company began operations on January 1year 1, by issuing common stock for $37.000 cash. During your Benson received 563,800 cash from revenue and incurred costs that required $48.800 of cash payments. Required Prepare a GAAP based income statement and balance sheet for Benton Company for year 1, for the below scenario .. Benson is a promoter of rock concerts. The $48,800 was paid to provide a rock concert that produced the revenue, Complete this question by entering your answer in the tabs below. Income Statement Balance Sheet Prepare an Income Statement DERSON COMPANY Income Statement for Yeart 0 4 Required information The following information applies to the questions displayed below) Benson Company began operations on January 1 year 1, by issuing common stock for $37.000 cash. During year 1 Benson received $63,800 cash from revenue and incurred costs that required $48,800 of cash payments. Part 1 of 3 Spoed Required Prepare a GAAP-based income statement and balance sheet for Benson Company for year 1, for the below scenario a. Benson is a promoter of rock concerts. The $48.800 was paid to provide a rock concert that produced the revenue. Complete this question by entering your answer in the tabs below. Income Statement Balance shers Prepare a Balance Sheet. BENSON COMPANY Balance Sheet as of 12/31 Year 1 Assets $ 0 Total assets Equity 0 $ Total equity 8 Me Benson Company began operations on January 1 year 1, by issuing common stock for $37,000 cash, During year 1, Benson received $63.800 cash from revenue and incurred costs that required $48,800 of cash payments Part 20 Prepare a GAAP based income statement and balance sheet for Benson Company for year 1. under each of the following independent scenarios b. Benson is in the car rental business. The $48,800 was paid to purchase automobiles. The automobiles were purchased on January 1 year and have four year useful lives with no expected salvage value Benson uses straight-line depreciation. The revenue was generated by leasing the automobiles Complete this question by entering your answer in the tabs below. Income Statement Balance Sheet Prepare an Income Statement BENSON COMPANY Incomitment for Year 1 $ 0 sheet> repare a GAAP Based income statement and balance sheet for Benson Company for year 1, under each of the following independent scenarios b. Benton is in the car rental business. The $48,800 was paid to purchase automobiles. The automobiles were purchased on January 1 year 1, and have four year useful lives, with no expected salvage Jonson uses straight line depreciation. The revenue was generated by leasing the automobiles Complete this question by entering your answer in the tabs below Income Balance Sheet Statement Prepare a balance sheet (Amounts to be deducted should be indicated with a minuten) BENSON COMPANY Balance of tasta Ass Total Equity Toiluty $ come Sale Bension Company began operations on Januaryyearby Common Mock for 1000 Dunya Besoeved 563.00 cm revenue and curred.com 548.800 of the Prebe GANDO Income rement and balance sheet for Benson Company for the below scena cenon mancung co The 540.000 with the $3.00 to purchase that were used to make thing they 100 for ages of workers who made producing Od 25.000 cash for strative ambly 10.500 mg. They had to y and 230 val. The companie de Dend compre 2.000 here will 600 to customers Com this wat by entering your awer in the the. che Princome Statement SOM MAN Paid $25.000 cash for salaries of sales and administrative employees 14 Paid $19.500 cash to purchase manufacturing equiment. The soulment was used solely to make products. It had four year and a $2.300 salvage value. The company uses straight line depreciation (5) During year 1.Ling started and completed 2.000 units of product. The revenue was come when Langsod 1600 units of product to its customers Complete the question by entering your answer in the taie below. Income Statement Man She Prepare a balance sheet Amounts to be douted heated with a min BENSON COMPANY A 0 Total