Problem 8-25A Accounting for depreciation over multiple accounting cycles: straight-line depreciation LO 8-2, 8-5 Bensen Company started business by acquiring $28,200 cash from the issue of common stock on January 1, 2016. The cash acquired was immediately used to purchase equipment for $28,200 that had a $4,600 salvage value and an expected useful life of four years. The equipment was used to produce the following revenue stream (assume that all revenue tran s actions are for cash). At the beginning of the fifth year, the equipment was sold for $5,070 cash. Bensen uses straight-line depreciation. 2016 2017 2018 2019 2020 Revenue $7,940 $8,440 $8,640 $7,440 $O Required Prepare income statements, statements of changes in stockholders' equity, balance sheets, and statements of cash flows for each of the five years. Present the statements in the form of a vertical statements model (Statement of Cash Flows and Balance Sheet only: Items to be deducted must be indicated with a minus sign.) BENSEN COMPANY Income Statement For the Year Ended December 31 2016 2017 2018 2019 2020 Gain/(Loss) Net incomel(loss)