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Bensen Company began operations when it acquired $26,400 cash from the issue of common stock on January 1, 2018. The cash acquired was immediately used to purchase equipment for $26,400 that had a $3,600 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 $3,100 cash. Bensen uses straight-line depreciation.

	2018	2019	2020	2021	2022
Revenue	$7,790	$8,290	$8,490	$7,290	$0

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.)

BEN SEN COMPANY For the Year Ended December 31 Income Statement 2018 2019 2020 2021 2022 Gain/(Loss) Net income/loss) Satement of Changes in Stockholders' Equity Net income/(loss) Total stockholder's equity Balance Sheet Assets Total assets Stockholder's Equity Total assets Stockholder's Equity Total stockholder's equity Statement of Cash Flows 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

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