Required information Additional Information on Year 2017 Transactions a. The loss on the cash sale of equipment was $18,125 (details in b) b. Sold equipment costing $85,875, with accumulated depreciation of $43,125, for $24,625 cash. c. Purchased equipment costing $109,375 by paying $56,000 cash and signing a long-term note payable for the balance d. Borrowed $5,300 cash by signing a short-term note payable e. Paid $56,625 cash to reduce the long-term notes payable f. Issued 3,800 shares of common stock for $20 cash per share g. Declared and paid cash dividends of $52,700 equired: repare a complete statement of cash flows using a spreadsheet, report its operating activities using the indirect method. (Enter all mounts as positive values.) FORTEN COMPANY Spreadsheet for Statement of Cash Flows For Year Ended December 31, 2017 Analysis of Changes Debit December 31, 2016 Credit December 31, 2017 Balance sheet-debit 86,500 63,625 264,800 2,155 121,000 538,080 Cash 69,400 unts receivable Inventory Prepaid expenses Equipment 69,400 Balance sheet-credit Accumulated depreciation-Equipment Accounts payable Short-term notes payable Long-term notes payable Common stock, $5 par value Paid-in capital in excess of par value, common stock 52,500 134,175 8,600 61,750 163,250 Required information Balance sheet-credit Accumulated depreciation-Equipment Accounts payable Short-term notes payable Long-term notes payable Common stock, $5 par value Paid-in capital in excess of par value, common stock Retained earnings 52,500 134,175 8,600 61,750 163,250 117,805 538,080 Statement of cash flows Operating activities Investing activities Financing activities Non cash investing and financing activities Purchase of equipment financed by long-term note payable