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Forten Company's currentyear income statement, comparative balance sheets, and additional information follow. For the year, ( 1 ) all sales are credit sales, ( 2
Forten Company's currentyear income statement, comparative balance sheets, and additional information follow. For the year, all sales are credit sales, all credits to Accounts Recaivable reflect cash receipts from customers, all purchases of inventory are on credit, and all debits to Accounts Payable reflect cash payments for inventory:
tabletableForren COMAPAIncome statemFor current Year Ended Dnber Sales$
REQUIREMENTS :
Prepare a complete statement of cash flows using the direct method. Disclose any noncash investing and financing acticities in a note.
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