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FORTEN COMPANYIncome StatementFor Current Year Ended December 3 1 . SalesCost of goods sold$ 6 3 7 , 5 0 0 2 9 6 ,

FORTEN COMPANYIncome StatementFor Current Year Ended December 31.SalesCost of goods sold$ 637,500296,000Gross profit341,500Operating expenses (excluding depreciation)$ 143,40031,750Depreciation expense175,150Other gains (losses)Loss on sale of equipment(16,125)Income before taxes150,225Income taxes expense39,650Vet income$ 110,575FORTEN COMPANYComparative Balance SheetsDecember 31Current YearPrior YearAssetsCash$ 66,400$ 84,500Accounts receivable82,38061,625Inventory292,156262,800Prepaid expenses1,3202,115Total current assets442,256411,040Equipment146,500119,000Accumulated depreciation-Equipment(42,125(51,500)Total assets$ 546,631$ 478,540Liabilities and EquityAccounts payable$ 64,141|$ 131,175Long-term notes payable72,80067,950Total liabilities136,941199,125EquityCommon stock, $5 par value179,250161,250Paid-in capital in excess of par, common stock54,000Retained earnings176,440118,165Total liabilities and equity$ 546,631$ 478,540iditional Information on Current Year Transactionsa. 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.
prepare a 20 row complete statement of cash flows using the indirect method for the current year. Its an entire table that need to be filled out its a statemewnt of cash flows for current year ended december 31st

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