Bensen Company began operations when it acquired $27,800 cash from the issue of common stock on...

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Bensen Company began operations when it acquired $27,800 cash from the issue of common stock on January 1, Year 1. The cash acquired was immediately used to purchase equipment for $27,800 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 all revenue transactions are for cash). At the beginning of the fifth year, the equipment was sold for $5,120 cash. Bensen uses straight-line depreciation. Year 1 Year 2 Revenue $ 7,600 $ 8,100 Year 3 $ 8,300 Year 4 $ 7,100 Year 5 $ 0 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 Balance Sheet Statement of Cash Flows Prepare income statements for each of the five years. (Losses should be entered with a minus sign.) BENSEN COMPANY Income Statement For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 Year 5 Gain/(Loss) Net income/(loss) < Income Statement Stmt of Changes > Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Balance Sheet Statement of Cash Flows 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.) Net income/(loss) Total stockholders' equity BENSEN COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31 Year 1 Year 2 < Income Statement Year 3 Year 4 Year 5 Balance Sheet > Prev 2 of 3 Next > Operating activities: Net cash flow from operating activities Investing activities: Net cash investing activities Financing activities: Net cash flow from financing activities Net change in cash Ending cash balance BENSEN COMPANY Statement of Cash Flows For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 Year 5 < Prev 2 of 3 Next > Bensen Company began operations when it acquired $27,800 cash from the issue of common stock on January 1, Year 1. The cash acquired was immediately used to purchase equipment for $27,800 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 all revenue transactions are for cash). At the beginning of the fifth year, the equipment was sold for $5,120 cash. Bensen uses straight-line depreciation. Year 1 Year 2 Revenue $ 7,600 $ 8,100 Year 3 $ 8,300 Year 4 $ 7,100 Year 5 $ 0 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 Balance Sheet Statement of Cash Flows Prepare income statements for each of the five years. (Losses should be entered with a minus sign.) BENSEN COMPANY Income Statement For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 Year 5 Gain/(Loss) Net income/(loss) < Income Statement Stmt of Changes > Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Balance Sheet Statement of Cash Flows 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.) Net income/(loss) Total stockholders' equity BENSEN COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31 Year 1 Year 2 < Income Statement Year 3 Year 4 Year 5 Balance Sheet > Prev 2 of 3 Next > Operating activities: Net cash flow from operating activities Investing activities: Net cash investing activities Financing activities: Net cash flow from financing activities Net change in cash Ending cash balance BENSEN COMPANY Statement of Cash Flows For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 Year 5 < Prev 2 of 3 Next >