Forten Company's current$-$year income statement, comparative balance sheets, and additional

information follow. 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, and $(4)$ all debits

to Accounts Payable reflect cash payments for inventory.

Additional Information on Current$-$Year Transactions

a$.$ The loss on the cash sale of equipment was $$11,125($details in $b).$

b$.$ Sold equipment costing $$64,875,$ with accumulated depreciation of $$36,125,$ for $$17,625$ cash.

c$.$ Purchased equipment costing $$102,375$ by paying $$42,000$ cash and signing a long$-$term note

payable for the balance.

d$.$ Paid $$48,525$ cash to reduce the long$-$term note payable.

e$.$ Issued $3,100$ common shares for $$20$ cash per share.

f$.$ Declared and paid cash dividends of $$51,300.$