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

The loss on the cash sale of equipment was $19,125 (details in b).

Sold equipment costing $88,875, with accumulated depreciation of $44,125, for $25,625 cash.

Purchased equipment costing $110,375 by paying $58,000 cash and signing a long-term notes payable for the balance.

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

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

Declared and paid cash dividends of $52,900.

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

FORTEN COMPANY Income Statement For Current Year Ended December 31 FORTEN COMPANY Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation-Equipment Total assets \begin{tabular}{rr} $70,900 & $87,500 \\ 86,910 & 64,625 \\ 296,656 & 265,800 \\ 1,350 & 2,175 \\ \hline 455,816 & 420,100 \\ 143,500 & 122,000 \\ (43,625) & (53,000) \\ \hline$555,691 & $489,100 \\ \hline \hline \end{tabular} Liabilities and Equity Accounts payable Long-term notes payable Total liabilities \begin{tabular}{rr} $67,141 & $135,675 \\ 72,200 & 71,550 \\ \hline 139,341 & 207,225 \end{tabular} Equity Common stock, \$5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity