Can you use same format.

correct format

Forten Company, a merchandiser, recently completed Its calendar-year 2017 operations. 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. (4) all debits to Accounts Payable reflect cash payments for Inventory, and (5) Other Expenses are paid in advance and are Intually debited to Prepaid Expenses. The company's Income statement and balance sheets follow. FORTEN COMPANY Comparative Balance Sheets December 31, 2017 and 2016 2017 2916 $ 49,800 65,810 275,656 1.250 392,516 157,500 36,625) $ 513,391 $ 73,500 50,625 251,800 1,875 377,800 108, eee (46,000) 5.439,800 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term notes payable Total liabilities Equity Common stock. $5 par value Paid-in capital in excess of par, common stock Retained earnings Total llabilities and equity $ 53,141 10, cea 63.141 65.000 128,141 $ 114,675 6.000 12e,675 48,250 169,425 150,250 162,750 17,500 185.000 $ 513,391 120, 125 $439,800 $ 582,500 285.ee 297,50 FORTEN COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense S 20.750 Other expenses 132,00 Other ins (losses Loss on sale ut en Income before taxes Income taxes expense Net Income 153, 154 1192225 24,20 For YESIS talyst DNB things Crete Den B4.2016 $ 49.800 Balance sheet debit Cash Accounts receivable Inventory Prepaid expenses Equipment 73,500 50,625 251,800 1,875 108,000 485,800 3 49,800 $ Balance sheet-credit Accumulated depreciation Equipment Accounts payable Short-term notes payable Long-term notes payable Common stock. 55 par value Paid-in capital in excess of par value, common stock Retained earnings 46,000 114,675 6,000 48.750 150,250 0 120.125 485,800 $ $ 0 114.975 20,750 Statement of cash flows Operating activities Net income Depreciation expense Increase in accounts receivable Increase in inventory Decrease in prepaid expenses Decrease in accounts payable Loss on sale of equipment Investing activities Payment to purchase equipment Receipt from sale of equipment 826 5.126 11825 Long-term notes payable Common stock. $5 par value Paid-in capital in excess of par value, common stock Retained earnings 48,750 150.250 0 $ 120,125 485,800 114.975 20,750 Statement of cash flows Operating activities Net income Depreciation expense Increase in accounts receivable Increase in inventory Decrease in prepaid expenses Decrease in accounts payable Loss on sale of equipment Investing activities Payment to purchase equipment Receipt from sale of equipment 625 5,125 11,825 4,000 Financing activities Borrowed on short-term note Payment on long-term note Issued common stock for cash Payment of cash dividends 60,000 Non cash investing and financing activities Purchase of equipment financed by long-term not payable 2071005