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, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses. Additional Information on Current Year Transactions a. The loss on the cash sale of equipment was $5,125 (details in b ). b. Sold equipment costing $46,875, with acciled b. Sold equipment costing $46,875, with accumulated depreciation of $30,125, for $11,625 cash. c. Purchased equipment costing $96,375 by paying $30,000 cash and signing a long-term note payable for the balance d. Borrowed $4,000 cash by signing a short-term note payable. e. Paid $50,125 cash to reduce the long-term notes payable. f. Issued 2,500 shares of common stock for $20 cash per share. g. Declared and paid cash dividends of $50,100. As your reconstructed entries are recorded, you will explain the changes in the beginning and ending balances for each account. Unadjusted Dates: December 31 > to: December 31 > Prepare the Statement of Cash flows for the year ended December 31, current year using t the Cash T-account on the General Ledger tab to identify the sources and uses of cast negative values. Statement of Cash Flows (Direct Method) For Current Year Ended December 31 Cash flows from operating activities: ? \% Prepare the operating activities section of the statement of cash flows using \begin{tabular}{c} FORTEN COMPANY \\ \hline Statement of Cash Flows (Indirect Method) \\ For Current Year Ended December 31 \\ \hline \end{tabular} Cash flows from operating activities: For Current Year Ended December 31 Adjustments to reconcile net income to net cash provided by operating activities: Income statement items not affecting cash Income statement items not affecting cash Changes in current operating assets and liabilities 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, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses. Additional Information on Current Year Transactions a. The loss on the cash sale of equipment was $5,125 (details in b ). b. Sold equipment costing $46,875, with acciled b. Sold equipment costing $46,875, with accumulated depreciation of $30,125, for $11,625 cash. c. Purchased equipment costing $96,375 by paying $30,000 cash and signing a long-term note payable for the balance d. Borrowed $4,000 cash by signing a short-term note payable. e. Paid $50,125 cash to reduce the long-term notes payable. f. Issued 2,500 shares of common stock for $20 cash per share. g. Declared and paid cash dividends of $50,100. As your reconstructed entries are recorded, you will explain the changes in the beginning and ending balances for each account. Unadjusted Dates: December 31 > to: December 31 > Prepare the Statement of Cash flows for the year ended December 31, current year using t the Cash T-account on the General Ledger tab to identify the sources and uses of cast negative values. Statement of Cash Flows (Direct Method) For Current Year Ended December 31 Cash flows from operating activities: ? \% Prepare the operating activities section of the statement of cash flows using \begin{tabular}{c} FORTEN COMPANY \\ \hline Statement of Cash Flows (Indirect Method) \\ For Current Year Ended December 31 \\ \hline \end{tabular} Cash flows from operating activities: For Current Year Ended December 31 Adjustments to reconcile net income to net cash provided by operating activities: Income statement items not affecting cash Income statement items not affecting cash Changes in current operating assets and liabilities