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work Forton Company's current year income statement, comparative balance sheets, and addmonal information follow. For the year (all sales are credit sales All credits to Accounts Receivable reflect cash receptes from customers, purchases of Inventory are on credit, (4) al debts to Accounts Payable reflect cash payments for inventory, and (5 Other Expenses are paid in advance and are indebted to Prepaid Expenses FOCTEN CONSTANY Comparative Balance Sheets Assets Current Pelor your Cash Accounts receivable $5,00 11.50 Tiventory 92.968,05 Prepaid expenses 200. Total current assets 22215 Equipment 73, 12,180 Acc. depreciation 119,50 126,00 (45.5) 55.000 Total sets 5 567,771 $ 5031 Lalities and Equity Accounts payable Short-tew notes payable $71,141 $ 141,67 Total current littes 15.ee 9.6 6.54 251,273 tongue notes payable 255.0 750 Total Ilabilities BE 200, Equity Common stock, 55 par value 119, 1625 Pald.in capital in excess of war, come stock Mutand earning 116.905 Total alities and city $57.73 se, . TORTEN COMPANY Incone Statut for Current Verhoed De 11 Sale sota, COEUF Qol 201.000 Grosso SON Oporti Derdim $3.50 100 . others) L core Dota 107.13 Or Additional information on Current Year Transactions a. The loss on the case of woment was $23.125 Ideas in b. Soldogulment cosong $100875 with cum tred de racion of $43.125 for $29.625th C. Purchased outcoin 5114375. by Ono 566 00 cennings interneto the d. Borrowed 55 800 cash by Shoot ayaba e. Pola 589:25 cash to reduce the commer 42000 520 share Deconds 553.700 Pey Homework sued 4,300 shares of common stock for $20 cash per share 9. Declared and paid cach dividends of $53.700 Problem 12-3A Indirect: Statement of cash flows LO A1, P2, P3 Required: 1. Prepare a complete statement of cash flows using the Indirect method for the current year. Amounts to be deducted should be indicated with a minus sign) FORTEN COM Sam of Cath Flows For Current Ented December Cash flows from operating advies Ence Adjustments to reconcile net income to cash provided by petons Cash flow from Cash flows from trang enam Carlos December Catec work Forton Company's current year income statement, comparative balance sheets, and addmonal information follow. For the year (all sales are credit sales All credits to Accounts Receivable reflect cash receptes from customers, purchases of Inventory are on credit, (4) al debts to Accounts Payable reflect cash payments for inventory, and (5 Other Expenses are paid in advance and are indebted to Prepaid Expenses FOCTEN CONSTANY Comparative Balance Sheets Assets Current Pelor your Cash Accounts receivable $5,00 11.50 Tiventory 92.968,05 Prepaid expenses 200. Total current assets 22215 Equipment 73, 12,180 Acc. depreciation 119,50 126,00 (45.5) 55.000 Total sets 5 567,771 $ 5031 Lalities and Equity Accounts payable Short-tew notes payable $71,141 $ 141,67 Total current littes 15.ee 9.6 6.54 251,273 tongue notes payable 255.0 750 Total Ilabilities BE 200, Equity Common stock, 55 par value 119, 1625 Pald.in capital in excess of war, come stock Mutand earning 116.905 Total alities and city $57.73 se, . TORTEN COMPANY Incone Statut for Current Verhoed De 11 Sale sota, COEUF Qol 201.000 Grosso SON Oporti Derdim $3.50 100 . others) L core Dota 107.13 Or Additional information on Current Year Transactions a. The loss on the case of woment was $23.125 Ideas in b. Soldogulment cosong $100875 with cum tred de racion of $43.125 for $29.625th C. Purchased outcoin 5114375. by Ono 566 00 cennings interneto the d. Borrowed 55 800 cash by Shoot ayaba e. Pola 589:25 cash to reduce the commer 42000 520 share Deconds 553.700 Pey Homework sued 4,300 shares of common stock for $20 cash per share 9. Declared and paid cach dividends of $53.700 Problem 12-3A Indirect: Statement of cash flows LO A1, P2, P3 Required: 1. Prepare a complete statement of cash flows using the Indirect method for the current year. Amounts to be deducted should be indicated with a minus sign) FORTEN COM Sam of Cath Flows For Current Ented December Cash flows from operating advies Ence Adjustments to reconcile net income to cash provided by petons Cash flow from Cash flows from trang enam Carlos December Catec