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Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the year, (t) all sales are credit sales, (2) all credits

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Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the year, (t) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of imventory 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 511125 (details in of 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 notes payable for the balance. d. Paid $48,525 cash to reduce the long-term notes payable. e. sued 3,100 shares of cornmon stock for $20 cash per share. f. Declared and paid cash dividends of $51,300. Required: 1. Prepare a complete statement of cash fiows using the indrect mesthod for the current year Note: Amounts to be deducted should be indicated with a minus sign

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