Oz Company was started when it issued bonds with a $290,000 face value on January 1 , Year 1 . The bonds were issued for cash at 98. Oz uses the straight-line method of amortization. They had a 20-year term to maturity and an 5 percent annual interest rate. Interest was payable on December 31 of each year. Oz Company immediately purchased land with the proceeds (cash received) from the bond issue. Oz leased the land for $18,125 cash per year. On January 1 , Year 4 , the company sold the land for $285,200 cash. Immediately after the sale of the land, Oz redeemed the bonds at 99 . Assume that no other accounting events occurred during Year 4. Required Prepare an income statement, statement of changes in equity, balance sheet, and statement of cash flows for the Year 1, Year 2 , Year 3, and Year 4 accounting periods. Assume that the company closes its books on December 31 of each year. Prepare the statements using a vertical statements format. (Hint: Record each year's transactions in T-accounts prior to preparing the financial statements.) Complete this question by entering your answers in the tabs below. Assume that the company closes its books on December 31 of each year. Prepare an income statement for the Year 1 , Year 2 , Year 3, and Year 4 accounting periods. (Enter amounts to be deducted with a minus sign.) Complete this question by entering your answers in the tabs below. Assume that the company closes its books on December 31 of each year. Prepare a statement of changes in equity for the Year 1 , Year 2, Year 3, and Year 4 accounting periods. (Enter amounts to be deducted with a minus sign.) Complete this question by entering your answers in the tabs below. Assume that the company closes its books on December 31 of each year. Prepare a balance sheet for the Year 1 , Year 2 , Year 3, and Year 4 accounting periods. (Enter amounts to be deducted with a minus sign.) Complete this question by entering your answers in the tabs below. Assume that the company closes its books on December 31 of each year. Prepare a statement of cash flows for the Year 1 , Year 2, Year 3, and Year 4 accounting periods. (Enter amounts to be deducted with a minus sign.)