Additional Information on Current Year Transactions a. The loss on the cash sale of equipment was \\( \\$ 17,125 \\) (details in b). b. Sold equipment costing \\( \\$ 82,875 \\), with accumulated depreciation of \\( \\$ 42,125 \\), for \\( \\$ 23,625 \\) cash. c. Purchased equipment costing \\( \\$ 108,375 \\) by paying \\( \\$ 54,000 \\) cash and signing a long-term notes payable for the balance. d. Paid \\( \\$ 50,925 \\) cash to reduce the long-term notes payable. e. Issued 3,700 shares of common stock for \\( \\$ 20 \\) cash per share. f. Declared and paid cash dividends of \\( \\$ 52,500 \\). 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 Recelvable 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