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.

FORTEN COMPANY
Income Statement
For Current Year Ended December 31
Sales		$ 637,500
Cost of goods sold		296,000
Gross profit		341,500
Operating expenses (excluding depreciation)	$ 143,400
Depreciation expense	31,750	175,150
Other gains (losses)
Loss on sale of equipment		(16,125)
Income before taxes		150,225
Income taxes expense		39,650
Net income		$ 110,575

FORTEN COMPANY
Comparative Balance Sheets
December 31
	Current Year	Prior Year
Assets
Cash	$ 66,400	$ 84,500
Accounts receivable	82,380	61,625
Inventory	292,156	262,800
Prepaid expenses	1,320	2,115
Total current assets	442,256	411,040
Equipment	146,500	119,000
Accumulated depreciationEquipment	(42,125)	(51,500)
Total assets	$ 546,631	$ 478,540
Liabilities and Equity
Accounts payable	$ 64,141	$ 131,175
Long-term notes payable	72,800	67,950
Total liabilities	136,941	199,125
Equity
Common stock, $5 par value	179,250	161,250
Paid-in capital in excess of par, common stock	54,000	0
Retained earnings	176,440	118,165
Total liabilities and equity	$ 546,631	$ 478,540

Additional Information on Current Year Transactions

The loss on the cash sale of equipment was $16,125 (details in b).

Sold equipment costing $79,875, with accumulated depreciation of $41,125, for $22,625 cash.

Purchased equipment costing $107,375 by paying $52,000 cash and signing a long-term notes payable for the balance.

Paid $50,525 cash to reduce the long-term notes payable.

Issued 3,600 shares of common stock for $20 cash per share.

Declared and paid cash dividends of $52,300.

Required: Prepare a complete statement of cash flows using a spreadsheet using the indirect method. (Enter all amounts as positive values.)