Saved Help Save & Exit Submit 2 Check my work Bensen Company began operations when it acquired $27,100 cash from the issue of common stock on January 1, 2018. The cash acquired was immediately used to purchase equipment for $27,100 that had a $4,300 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 $4,820 cash. Bensen uses straight-line depreciation 2022 $0 2021 2018 $7,650 $8,150 $8,350 $7,150 2019 2020 Revenue 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.)