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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

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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 imventory 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 cash sale of ecuionent was 511125 (details in b) b. Sold equipment costing 564,875 . vith accurmulated depreqation of $36,125. for $17.625 cash. c. Purchased equipment costing 5102,375 by payng $42000cmsh and sighing a long term notes payable for the balance. d. Paid 548,525 cash to seduce the Jne-term rotes payable e. Issued 3.100 sheres of comrmon stoek for 520 cast per share. 4. Decared and paid cash divicends of 551300 . Required: 1. Prepare a complete statement of cash flows using the indirect method for the current year

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