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prepare statument of CASH RTow using endirect Method for Current year. [ The following information applies to the questions displayed below. ] Forten Company's current

prepare
statument
of
CASH
RTow
using
endirect Method
for Current
year.
[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, (1) 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.
FORTEN COMPANY
Income Statement For Current Year Ended December 31
Sales
Cost of goods sold
Gross profit
Operating expenses (excluding depreciation)
Depreciation expense
Other gains (losses)
Loss on sale of equipment
Income before taxes
Income taxes expense
Net income
FORTEN COMPANY
Comparative Balance Sheets
December 31
\table[[Assets,Current Year,Prior Year],[Cash,$78,400,$92,500
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