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Bensen Company started business by acquiring $25,900 cash from the issue of common stock on January 1, Year 1. The cash acquired was immediately used to purchase equipment for $25,900 that had a $3,900 salvage value and an expected useful life of four years. The equipment was used to produce the following revenue stream (assume that all revenue transactions are for cash). At the beginning of the fifth year, the equipment was sold for $4,390 cash. Bensen uses straight-line depreciation. Year 5 Year 1 $ 7,710 Year 2 $ 8,210 Year 3 $ 8,410 Year 4 $ 7,210 Revenue 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. Income Statement Stmt of Changes in Stkholders Eq Balance Sheet Statement of Cash Flows Prepare income statements for each of the five years. BENSEN COMPANY Income Statement For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 Year 5 0 0 0 0 Gain/(Loss) Net income/(loss) $ 0 $ 0 $ 0 $ 0 $ 0 Income Statement Stmt of Changes in Stkholders Eq> Stmt of Income Statement of Statement Changes in Balance Sheet Stkholders Eq Cash Flows Prepare the statements of changes in stockholders' equity for each of the five years. BENSEN COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 Year 5 0 0 0 Net income/(loss) 0 0 0 0 0 Total stockholders' equity $ 0 $ 0 $ 0 0 $ 0 Stmt of Income Statement Changes in Balance Sheet Statement of Stkholders Eq Cash Flows Prepare the balance sheets for each of the five years. (Amounts to be deducted should be indicated by a minus sign BENSEN COMPANY Balance Sheet Year 1 Year 2 Year 3 Year 4 Year 5 Assets $ 0 $ 0 $ 0 $ Total assets Stockholders' Equity Total stockholders' equity GA 0 $ 0 $ 0 $ 0 0 Income Stmt of Changes in Balance Sheet Statement of Statement Cash Flows Stkholders Eq Prepare the statements of cash flows for each of the five years. BENSEN COMPANY Statement of Cash Flows Year 1 Year 2 Year 3 Year 4 Year 5 Operating activities: 0 0 0 0 Net cash flow from operating activities Investing activities: 0 0 0 Net cash investing activities Financing activities: 0 0 0 0 0 Net cash flow from financing activities Net change in cash 0 0 0 0 0 Ending cash balance $ 0 0 $ 0