Problem $12-3$A Indirect: Statement of cash flows

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.

Additional Information on Current$-$Year Transactions

a$.$ The loss on the cash sale of equipment was $$5,125($details in b$).$

b$.$ Sold equipment costing $$46,875,$ with accumulated depreciation of $$30,125,$ for $$11,625$ cash.

c$.$ Purchased equipment costing $$96,375$ by paying $$30,000$ cash and signing a long$-$term notes payable for the balance.

d$.$ Paid $$46,125$ cash to reduce the long$-$term notes payable.

e$.$ Issued $2,500$ shares of common stock for $$20$ cash per share.

f$.$ Declared and paid cash dividends of $$50,100.$

Required

Prepare a complete statement of cash flows using the indirect method for the current year. Disclose any noncash investing and financing

activities in a note.

Aharysis cumpulut