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need help filling out table Forten Company's current year income statement, comparative balance sheets, and additional information follow. year, (1) all sales are credit sales,
need help filling out table
Forten Company's current year income statement, comparative balance sheets, and additional information follow. 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 and (4) all debits to Accounts Payable reflect cash payments for inventory VFORTEK Incorne Statement - For Kurt-env year, Ended Deceer For the Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Other gains (losses) Loss on sale of equiment Income before taxes Income taxes expense '-kt income -FORTEN CO''PANY 151,4 39, 750 34, 373,500 191,19 125) 158,225 se,ase s 107,375 S 78,4e s 92,se 24,156 27e,s 478,416 435, 2ee 138,s 127,e 143, 341 220,725 191,25e 169,25e ,e 173, zee 116, 570, 791 se, ree $ 677,se (24, Comparative Balence Sheets December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment Accumulated depreciationEquinent Current_ Year 94, 1, 4ee (46, 125) s 570,791 s 72,141 71, 2e Prior Total assets Liabilities and Equity Accounts payable Long-term notes payable Total liabilities Equity Common stock, SS per value PaiC-in capital in excess of Retainec ear-nines Tote: liabilities end equity Year 69,625 2,275 (55, see) 77,552 stock FORTEN COMPANY s s s 143,175 par, cormon s Statement of Cash Flows Cash flows from operating activities Adstnents to reconcae net income to net cash provided by operations: Income statement items not affecting cash Changes in current assets and current liabilities Cash flows from investing activities Cash flows from finanirig activities: net increase (decrease) in cash Cash balance at December 31 prior year Cash balance at December 31. current year
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