Required information Problem 10-26A (Algo) Service versus manufacturing companies LO 10.4 [The following information applies to the questions displayed below] Benson Company began operations on January 1, Year 1, by issuing common stock for $30,000 cash. During Year 1 , Benson received $56,800 cash from revenue and incurred costs that required $37,800 of cash payments. Problem 10.26A (Algo) Part a Recuired Prepare a GAAP-based income statement and balance sheet for Benson Company for Year 1 , under the following independent scenario 0. Benson is a promatef of rock concerts. The $37,800 was paid to provide a rock concert that procuced the revente Complete this question by entering your answer in the tabs below. Complete this question by entering your answer in the tabs below. Prepare an Income Statement. Required information Prepare a Balance Sheet