Forten Company's current year income statement comparative balance sheets, and additional Information follow. For the year. I all sales are creat sales, (2) all credits to Accounts Receivable reflect cash receipts from customers. B) all purchases of Inventory are on credit and (4) all debits to Accounts Payable reflect cash payments for inventory FORTEN COMPANY Income Statement For Canent Year Ended December 31 $ 657.580 COSE Sold 300, Gros profil 357.50 Operating des Kancluding depredation) $ 147,400 Deprecatepec 25.750 180.se Asses) LONDON Ale of equipment 20,125) 154,225 45,250 MA $ 189,97 Tree Inc ws FORTEN COPANY Comparative Balance Sheets December 11 Assets Curtea Prior SO GS GES 256 Ace Toy PM Total cuts Actor Tous Les and out $ 72,400 38,420 295.156 1368 4:34 142. (44125 $72 23 12. 1535 $43.5 TO 5. 2 10. 1522 BE SS TIL 15.20 1 . 1721 5340 Additional information on Current Year Transactions & The oss on the cash sale of coupment was $20.125 als in b. Soldegoment cong $94875. with accumulated depreciation of $45125 for $26.525 sh Pure Bouet con $111.375 by paying $60.000 cash and signing a long-term rayson ance d. Psd 552125 reduce the long payo e Issued 4000 shares of common stock for $20 cash per share Declared and bad cash avonds of 553300 Problem 16-3A (Algo) Indirect: Statement of cash flows LO A1, P2, P3 Required 1 Pare come statement of cash tows using the natract method for the current year Amounts to be deducted should be indicated with a mission FORTEN COMPANY Sunt of Cash Flows For Current Year Ended December 31