Forten Company's current year income statement, comparative balance sheets, and additional information follo For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from custon (3) all purchases of inventory are on credit, and (4) all debits to Accounts Payable reflect cash payments for inv Additional Information on Current Year Transactions Additional Information on Current Year Transactions a. The loss on the cash sale of equipment was $23,125 (details in b ). b. Sold equipment costing $100,875, with accumulated depreciation of $48,125, for $29,625 cash. c. Purchased equipment costing $114,375 by paying $66,000 cash and signing a long-term notes payable for the balance. d. Paid $53,325 cash to reduce the long-term notes payable. e. Issued 4,300 shares of common stock for $20 cash per share. f. Declared and paid cash dividends of $53,700. quired: Drepare a complete statement of cash flows using the indirect method for the current year. (Amounts to be deducted should be licated with a minus sign.) FORTEN COMPANY Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash \begin{tabular}{|l|l|} \hline & \\ \hline \hline Changes in current assets and current liabilities & \\ \hline \hline & \\ \hline \hline & \\ \hline \hline & \\ \hline \hline & \\ \hline \hline \end{tabular} FORTEN COMPANY Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 Investing activities Financing activities Non cash investing and financing activities Purchase of equipment financed by long-term notes payable