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please solve this for me asap! (All Part of One Problem) Follows Guidelines! Use the following information for the Problems below. [The following information applies

please solve this for me asap! (All Part of One Problem) Follows Guidelines!
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Use the following information for the Problems below. [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, it) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit . (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses. FORTEN COMPANY Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash 151.400 $74.500 Accounts receivable 67.310 51.625 Inventory 277.156 252.000 Prepaid expenses 1.900 2.025 Total current assets 297/166 310,50 Equipment 156,500 109.000 Accun depreciation Equipment (37.125) (46.500 Total assets 516.541 $443,450 Liabilities and Equity Accounts payable $ 54,141 Short te nates payable $ 116.175 10.200 8.200 Total current liabilities 6440 122375 Long ter notes payable 14.500 49.750 Total liabilities 120.04 17215 Equity Con stock, 35 par value 164.250 151.250 Paid.in capital in excess of par con stock 39.000 Retained earning 18450 120,073 Total liabilities and equity $ 516,941 1443,450 FORTEN COMPANY Incose Statesent For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 21.750 other expenses 133.400 Other gains (losses) Los on sale of equipoent Incose before taxes $ 587,500 286.000 3019500 155.150 (6.125 1402 Prev 7 7 12 $ 587,500 286.000 301.500 Income Statement For Current Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 21.750 Other expenses 133,400 Other gains (losses) Loss on sale of equipment Incone before taxes Incone taxes expense Net income 155, 150 (6.125) 140, 225 25,650 $ 114.575 Additional Information on Current Year Transactions a. The loss on the cash sale of equipment was $6,125 (details in b). b. Sold equipment costing $49,875, with accumulated depreciation of $31125, for $12,625 cash. c. Purchased equipment costing $97,375 by paying $32,000 cash and signing a long-term note payable for the balance d. Borrowed $4,100 cash by signing a short-term note payable e. Paid $50,625 cash to reduce the long-term notes payable. f. Issued 2,600 shares of common stock for $20 cash per share. g. Declared and paid cash dividends of $50,300 Required information FORTEN COMPANY Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations tes Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash Cash balance at December 31. prior year Cash balance at December 31. current year

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