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 cosh sole of equipment was $$19,125($details in $b).$

b$.$ Sold equipment costing $$88,875,$ with sccumulated depreciation of $$44,125,$ for $$25,625$ cosh$.$

c$.$ Purchssed equipment costing $$110,375$ by paying $$58,000$ cash and signing a long$-$term notes paysble for the

bolance.

d$.$ Paid $$51,725$ cosh to reduce the long$-$term notes payable.

e$.$ lssued $3,900$ shares of common stock for $$20$ cash per share.

f$.$ Declared and paid cash dividends of $$52,900.$

Problem $16-3$A $($Algo$)$ Indirect: Statement of cash flows LO A$1,$ P$2,$ P$3$

Requlred:

Prepare a complete statement of cosh flows using the indirect method for the current year.

Note: Amounts to be deducted should be Indicated with a minus sign.