Ex 9: FORTEN COMPANY For Year Ended Deer 11, 201 1367 Other 300 3420 A FORTEN COMPANY $7 1048 25100 37700 Quas FAU BI 131415 Siquity HAUSE Additional information on Year 2015 transactions: Sold equipment costing $46,875 wen Accumulated Depreciation of $30,125 for $11,825 Cash Lo on this was Purchased equipment costing $96,375 by paying $30,000 cash and signing a long term Nee pay for the balance- Paid $50, 125 Cash to run the long-him Note Payab 2,500 Shares of Common Glock for $20 per share Declared and paid cash dividend of $50, 100 Cash flow from Operating Activities: Iovet cacoma Amount Hun on Year 2015 transactions a. Bold equipment costing $46.875 with Accumulated Depreciation of $30,125 for 511,625 Cash Loss on this sale was $5,125 h. Purchased equipment coating son.375 by paying $30,000 cash and signing a long-term Note payable for the balance Paid $50,125 Cash to reduce the long-term Note Payable d, Issue 2,500 Shares of Common Stock for $20 per share e. Declared and paid cash dividend of $50,100 Cash flow from Operating Activities: Net Income Ack Amount Deduct Net Cash Provided By/Used For Operating Activities: Cash flow from Investing Activities: Add: Deduct Net Cash Provided By/Used For Investing Activities: Cash flow from Financing Activities: Add: Deduct: Net Cash Provided By/Used For Financing Activities: 2015 2014 Assets Cash $49.000 $73.500 Accounts receivable 65.810 50625 Inventory 275.656 251,800 Prepaid expenses 1.250 1875 Total current assets. 392.516 377800 Equipment 157,500 108,000 FORTEN COMPANY Income Statement For Year Ended December 31, 2015 Actum deprecation-Equipment (36,625) (46,000) Total assets $513.391 1439800 Liabilities and Equity $582.500 Accounts payable $53,141 $114,675 Cost of goods sold 205.000 Short-term notes payable 10.000 6000 Gross prots 297,500 Total current labges 63.141 120675 Operating expenses Long-term notes payable 65.000 48,750 Depreciation expense $20.750 Total abilities 128.141 169,425 Other expenses. 132.400 153,150 Equity Other game() Common stock, $5 par value 162.750 150,250 Loss on sale of equipment (5.125) Paid-in capital in excess Income before taxes 139,225 of par, common stock 37,500 Income tass expence Net income 24.250 $114.975 Retained earnings 185.000 120,125 Total abilities and equity $513.391 1429.800