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 initially debited to Prepaid Expenses. The companys income statement and balance sheets follow.

1.Prepare a complete statement of cash flows using a spreadsheet; report Its operating activitles using the Indirect method. (Enter all amounts as positive values.)

2.Required: Prepare a complete statement of cash flows; report Its operating activities according to the direct method (Amounts to be deductee hould be Indicated with a minus sign.)

3.

a. Purchased equipment for $49,500 cash.

b. Issued 12,800 shares of common stock for $5 cash per share.

c. Declared and $97000 In cash dlvidends.

Required: Prepare a complete statement of cash flows; report Its cash flows from operating actiMtles according to the direct method. (Amounts to be deducted should be Indicated with a minus sign.)

1.Prepare a complete statement of cash flows using a spreadsheet; report Its operating activitles using the Indirect method. (Enter all amounts as positive values.)

2.Required: Prepare a complete statement of cash flows; report Its operating activities according to the direct method (Amounts to be deductee hould be Indicated with a minus sign.)

3.

a. Purchased equipment for $49,500 cash.

b. Issued 12,800 shares of common stock for $5 cash per share.

c. Declared and $97000 In cash dlvidends.

Required: Prepare a complete statement of cash flows; report Its cash flows from operating actiMtles according to the direct method. (Amounts to be deducted should be Indicated with a minus sign.)

Required: Prepare a complete statement of cash flows using a spreadsheet; report Its operating activitles using the Indlrect method (Enter all amounts as positive values.) Answer is not complete. FORTEN COMPANY Spreadsheet for Statement of Cash Flows For Year Ended December 31, 2017 Analysis of Changes December 31, 2016 December 31, 2017 Debit Credit Balance sheet-debit 67,900 17.800 S Cash 85.500 21,265 29,850 Accounts receivable 62,825 83,890 203,800 293,050 Inventory Prapaid expenses 805 82875 2,135 1,330 Equipment 120,000 108,375 145,500 592.276 534,060 Balance sheet-credit 42,825 42.125S 67,534 32,750 Accumulated depreciation-Equipment 52,000 132,675 65,141 Accounts payable 5.200 Short-term notes payable 8,400 13.600 54.375 56,125 Long-term notes payable 60,750 59.000 24,500 49.500 Common stock, $5 par value 162,250 186,750 Paid-in capital in excess of par value, common stock 40,500 175,880 592,276 110,175 Retained earnings 117,985 534,080 52,500 Statament of cash flows Operating activities Net income 110,175 21.265 Increase in accounts receivable 29.358 Increase in inventory 805 Decrease in prepaid expenses 67,534 Decrease in accounts payable 32,750 Depreciation expense Loss on sale of equipment 17,125 Investing activities Receipt from sale of equipment 23,825 54,000 Payment to purchase equipment Financing activities 5.200 Borrowed on short-term note 58.125 Payment on long-tem ncte 74,000 Issued common stock for cash 52.500 Payment of cash dividends Non cash investing and financing activities Purchase of equipment financed by long-term note payable 54,375 641,460 713,435 Required: Prepare a complete statement of cash flows; report Its operating actlivitles according to the direct method (Amounts to be deducted should be Indicated witha minus sign.) FORTEN COMPANY Statement of Cash Flows For Year Ended December 31, 2017 Cash flows from operating activities 0 Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash Cash balance at beginning of year Cash balance at end of vear Additional Information on Year 2017 Transactlons a. Purchased equipment for $49,500 cash. b. Issued 12,800 shares of common stock for $5 cash per share. c. Declared and paid $97,000 In cash dividends. Required: Prepare a complete statement of cash flows; report its cash flows from operating activitles according to the dlirect method. (Amounts to be deducted should be Indicated with a minus sign.) GOLDEN CORPORATION Statement of Cash Flows For Year Ended December 31, 2017 Cash flows from operating activities 0 0 Cash flows from financing activities 0 Net increase (decrease) in cash Cash balance at Cash balance at end of year 0 of Required: Prepare a complete statement of cash flows using a spreadsheet; report Its operating activitles using the Indlrect method (Enter all amounts as positive values.) Answer is not complete. FORTEN COMPANY Spreadsheet for Statement of Cash Flows For Year Ended December 31, 2017 Analysis of Changes December 31, 2016 December 31, 2017 Debit Credit Balance sheet-debit 67,900 17.800 S Cash 85.500 21,265 29,850 Accounts receivable 62,825 83,890 203,800 293,050 Inventory Prapaid expenses 805 82875 2,135 1,330 Equipment 120,000 108,375 145,500 592.276 534,060 Balance sheet-credit 42,825 42.125S 67,534 32,750 Accumulated depreciation-Equipment 52,000 132,675 65,141 Accounts payable 5.200 Short-term notes payable 8,400 13.600 54.375 56,125 Long-term notes payable 60,750 59.000 24,500 49.500 Common stock, $5 par value 162,250 186,750 Paid-in capital in excess of par value, common stock 40,500 175,880 592,276 110,175 Retained earnings 117,985 534,080 52,500 Statament of cash flows Operating activities Net income 110,175 21.265 Increase in accounts receivable 29.358 Increase in inventory 805 Decrease in prepaid expenses 67,534 Decrease in accounts payable 32,750 Depreciation expense Loss on sale of equipment 17,125 Investing activities Receipt from sale of equipment 23,825 54,000 Payment to purchase equipment Financing activities 5.200 Borrowed on short-term note 58.125 Payment on long-tem ncte 74,000 Issued common stock for cash 52.500 Payment of cash dividends Non cash investing and financing activities Purchase of equipment financed by long-term note payable 54,375 641,460 713,435 Required: Prepare a complete statement of cash flows; report Its operating actlivitles according to the direct method (Amounts to be deducted should be Indicated witha minus sign.) FORTEN COMPANY Statement of Cash Flows For Year Ended December 31, 2017 Cash flows from operating activities 0 Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash Cash balance at beginning of year Cash balance at end of vear Additional Information on Year 2017 Transactlons a. Purchased equipment for $49,500 cash. b. Issued 12,800 shares of common stock for $5 cash per share. c. Declared and paid $97,000 In cash dividends. Required: Prepare a complete statement of cash flows; report its cash flows from operating activitles according to the dlirect method. (Amounts to be deducted should be Indicated with a minus sign.) GOLDEN CORPORATION Statement of Cash Flows For Year Ended December 31, 2017 Cash flows from operating activities 0 0 Cash flows from financing activities 0 Net increase (decrease) in cash Cash balance at Cash balance at end of year 0 of