3. [The following information applies to the questions displayed below.] Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, and (4) all debits to Accounts Payable reflect cash payments for inventory. Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense FORTEN COMPANY Income Statement For Current Year Ended December 31 Other gains (losses) Loss on sale of equipment Income before taxes Income taxes expense Net Income Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation-Equipment Total assets Total liabilities Equity Liabilities and Equity Accounts payable Long-term notes payable FORTEN COMPANY Comparative Balance Sheets December 31 $ 145,400 33,750 Award: 5.00 points $ 647,500 298,000 349,500 179,150 (18,125) 152,225 42,450 $109775 Current Year $ 69,400 85,400 295,156 1,340 451,296 144,500 (43,125) $ 552,671 $ 66,141 72,400 138,541 182,250 57,000 174,BBO $ 552,671 Prior Year Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity Additional Information on Current Year Transactions $ 86.500 63,625 264,800 2,155 417,080 121,000 (52,500) FORTEN COMPANY Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 $ 485,580 December 31, Prior Year $134,175 70,350 204,525 a The loss on the cash sale of equipment was $18,125 (details in b). b. Sold equipment costing $85,875, with accumulated depreciation of $43,125, for $24,625 cash. c. Purchased equipment costing $109,375 by paying $56,000 cash and signing a long-term notes payable for the balance. d. Paid $51,325 cash to reduce the long-term notes payable. e. Issued 3,800 shares of common stock for $20 cash per share. Declared and paid cash dividends of $52,700. 163,250 0 117,805 $ 485,580 Required: Prepare a complete statement of cash flows using a spreadsheet using the indirect method. Note: Enter all amounts as positive values. Analysis of Changes Credit Debit December 31, Current Year

IThe following infontation applies to the questionts displayed below. Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the year, (t) all sales are credit sales, (2) all credits to Accounts Receivable refiect cash receipts from customers, (3) all purchases of irventory are on credit, and (4) all debits to Accounts Payable reflect cash payments for inventory Additional Information on Current Year Transactions 2. The loss on the cash sale of equgment was $18,125 idetails in b. - Sold equipment costing $85,875, with accumulated depreciation of $43.125, for $24.625 cash. e. Purchased equipment costing $109,375 by paying $56,000 cash and signing a leng-term notes payable for the balance. 2. Paid $51,325 cash to reduce the long-term notes payable. - Istued 3,800 shares of common stock for $20 cash per share. - Declared and peid cash divitends of $52,700 Aequiret Prepare a complete statement of cash fows using a spreadsheet using the indinct mathod. Note: Enter all amounts as positive values. IThe following infontation applies to the questionts displayed below. Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the year, (t) all sales are credit sales, (2) all credits to Accounts Receivable refiect cash receipts from customers, (3) all purchases of irventory are on credit, and (4) all debits to Accounts Payable reflect cash payments for inventory Additional Information on Current Year Transactions 2. The loss on the cash sale of equgment was $18,125 idetails in b. - Sold equipment costing $85,875, with accumulated depreciation of $43.125, for $24.625 cash. e. Purchased equipment costing $109,375 by paying $56,000 cash and signing a leng-term notes payable for the balance. 2. Paid $51,325 cash to reduce the long-term notes payable. - Istued 3,800 shares of common stock for $20 cash per share. - Declared and peid cash divitends of $52,700 Aequiret Prepare a complete statement of cash fows using a spreadsheet using the indinct mathod. Note: Enter all amounts as positive values