number 6 is part of 5

Check my work Required Information Use the following information for the Problems below. (Algo) The following information applies to the questions displayed below) Forten Company's current year income statement comparative balance sheets, and additional information follow. For the year, (t) all sales are credit sales. (2) all credits to Accounts Receivable reflect cash receipts from customers. 3) all purchases of inventory are on credit, and (4) all debits to Accounts Payable reflect cash payments for inventory TONTIN COMPANY Icon Statement For Current Year Ended December 31 - Sales 1612.500 Coat of goods sold 291,000 Gross profis 32,500 Operating expenses (excluding depreciation) $ 138,400 Depreciation expense 26.750 165, 150 Other gain (los) toas on sale of equipment 21.125 Income before taxes 145,225 Income taxes expense 32.650 et Leon $ 113,595 Book TORTEN COMPANY Comparative Balance thata December 31 Assets Cash ncounts receivable Tovestory Drepaid expens Total durrestat Kupont Neemiated depreciation Equipment Total asset Current Year Trior Year $ 58,900 $ 79,500 74,30 56.625 211.656 257.000 1.270 2015 419.694 395,940 151,500 314,000 39.625 49,000 $ 531,531 5460,940 5 Oy Part of 2 10 points Accounts receivable Twentowy 14,130 56,625 Prepaid expenses 284,656 257.100 Total current assets 1.70 2013 Equipment 413,656 395,000 Accumulated depreciation et 151.500 114,000 179.029 59.000 Total assets 531,531 Liabilities and wisy coats payable $ 59,141 123.675 Total liabilities Long-ters notes payable 73.00 132.941 Equity Common stock, 55 par valde 111,750 156,29 Pald-in capital la copa, con stock 46,500 Retained ning 200340 119,04 Total liabilities and equity 331,531 3450,140 Additional Information on Current Year Transactions 3. The loss on the cash sale of equipment was $11,125 (details in b. Sold equipment costing $64,875, with accumulated depreciation of $36,125, for $17.625 cos c. Purchased equipment costing $102,375 by paying $42.000 cash and signing a long term notes payable for the balance d. Paid $48,525 cash to reduce the long-term notes payable e issued 3.100 shares of common stock for $20 cash per share . Declared and paid cash dividends of $51300 Problem 12-3A (Algo) 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.) 5 Chemy Problem 12-3A (Algo) Indirect: Statement of cash flows LO A1, P2, P3 Part of 2 Required: 1. Prepare a complete statement of cash flows using the indivec method for the current year. (Amounts to be deducted should be Indicated with a minus sign) 10 points Herences $ 594246 FORTEN COMPANY Statement of Cash Flow For Current Year Ended December 31 Cash flows from operating action Net income Adjustments to record net income to not cash provided typerion income statement is not acting cash Depreciation experte Loss on disposal of equipment Changes in current and current Increase in accounts receivable Increase in inventory Decrease in prepaid expenses Decrease in prepaid expenses Decrease in accounts payable 5 54205 Cash flows from investing activities Cash received from sale of met Cash paid for equipment & Hoblems. Chapter 12 5 Part 1 of 2 Required information Inoase in accounts receivable Increase in ventory Decrease in prepaid expenses Decrease in prepaid expenses Decrease in accounts payable 10 points $ 5042 eBook Cash flows from investing activiti Cash received from sale of equipment Cash paid for equipment References D Cash flows from financing activities: Cash paid on long-term notes Cash received from issuing stock Cash paid for dividends 0 504296 $ Net increase (decrease) in cash Cash balance at December 31, prior year Cash balance at December 31, current year $ 594.295 es & Problems Chapter 12 . 053 6 Required information Part 22 Start of Cases Yorum Yeded December 11 Cashflows from coming Cash received from com Increase in handiary Cash paid for pengen Cash paid for me 10 DO 30 32.00 1 1140 Cashows from in Loss on sale formant Cash paid for agent 42.000 50195 Cash flow from financing activities Cashoved from singsod Cash paid on long notes Cash paid for dividende 62.000 140251 7.825) 3.166,70 Nel increased in Cash balance at December 31. prior you Cash bolance at December 31, current year 1.168.70