Additional Information on Current Year Transactions a. The loss on the cash sale of equipment was $16,125 (details in b ). b. Sold equipment costing $79,875, with accumulated depreciation of $41,125, for $22,625 cash. c. Purchased equipment costing $107,375 by paying $52,000 cash and signing a long-term notes payable for the balance. d. Paid $50,525 cash to reduce the long-term notes payable. e. Issued 3,600 shares of common stock for $20 cash per share. f. Declared and paid cash dividends of $52,300. FORTEN COMPANY Statement of Cash Flows For Current Year Ended Decembar 31 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Changes in current assets and current liabilities