Problem 6-25A (Algo) Accounting for depreciation over multiple accounting cycles: straight-line depreciation LO 6-2, 6-5 Bensen Company began operations when it acquired $24,100 cash from the issue of common stock on January 1, Year 1 . The cash acquired was immediately used to purchase equipment for $24,100 that had a $4,100 salvage value and an expected useful life of four years. The equipment was used to produce the following revenue stream (assume all revenue transactions are for cash). At the beginning of the fifth year, the equipment was sold for $4,600 cash. Bensen uses straight-line depreciation. 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. Prepare income statements for each of the five years. (Losses should be entered with a minus sign.) Problem 6-25A (Algo) Accounting for depreciation over multiple accounting cycles: straight-line depreciation LO 6-2, 6-5 Bensen Company began operations when it acquired $24,100 cash from the issue of common stock on January 1 , Year 1 . The cash acquired was immediately used to purchase equipment for $24,100 that had a $4,100 salvage value and an expected useful life of fou years. The equipment was used to produce the following revenue stream (assume all revenue transactions are for cash). At the beginning of the fifth year, the equipment was sold for $4,600 cash. Bensen uses straight-line depreciation. 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. Prepare the statements of changes in stockholders' equity for each of the five years. (Amounts to be deducted and losses should be indicated by a minus sign.) Problem 6-25A (Algo) Accounting for depreciation over multiple accounting cycles: straight-line depreciation LO 6-2, 6-5 Bensen Company began operations when it acquired $24,100 cash from the issue of common stock on January 1, Year 1 . The cash acquired was immediately used to purchase equipment for $24,100 that had a $4,100 salvage value and an expected useful life of fol years. The equipment was used to produce the following revenue stream (assume all revenue transactions are for cash). At the beginning of the fifth year, the equipment was sold for $4,600 cash. Bensen uses straight-line depreciation. 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. Problem 6-25A (Algo) Accounting for depreciation over multiple accounting cycles: straight-line depreciation LO 6-2, 6-5 Bensen Company began operations when it acquired $24,100 cash from the issue of common stock on January 1 , Year 1 . The cash acquired was immediately used to purchase equipment for $24,100 that had a $4,100 salvage value and an expected useful life of fou years. The equipment was used to produce the following revenue stream (assume all revenue transactions are for cash). At the beginning of the fifth year, the equipment was sold for $4,600 cash. Bensen uses straight-line depreciation. 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