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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 SalesCost of goods sold$ Gross profitOperating expenses excluding depreciation$ Depreciation expenseOther gains lossesLoss on sale of equipmentIncome before taxesIncome taxes expenseVet income$ FORTEN COMPANYComparative Balance SheetsDecember Current YearPrior YearAssetsCash$ $ Accounts receivableInventoryPrepaid expensesTotal current assetsEquipmentAccumulated depreciationEquipmentTotal assets$ $ Liabilities and EquityAccounts payable$ $ Longterm notes payableTotal liabilitiesEquityCommon stock, $ par valuePaidin capital in excess of par, common stockRetained earningsTotal liabilities and equity$ $ iditional Information on Current Year Transactionsa. The loss on the cash sale of equipment was $details in bb Sold equipment costing $ with accumulated depreciation of $ for $ cash.c Purchased equipment costing $ by paying $ cash and signing a longterm notes payable for the balance.d Paid $ cash to reduce the longterm notes payable.e Issued shares of common stock for $ cash per share.f Declared and paid cash dividends of $
prepare a 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 st
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