Required information The following Information applies to the questions displayed below Forten Company, a merchandiser, recently completed its calendar-year 2017 operations. For the year ()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 pald in advance and are initially debited to Prepaid Expenses. The company's income statement and balance sheets follow Coeparative Balance Sheets December 31, 2017 and 2816 63,400 82,509 9,625 Accounts receivable Inventory Prepaid expenses Total current assets Equipment Accum. deprec lat ion-Equipment Total assets Lablities and Equity 289,156 260,8 33,236495,800 (1,125) (se see Short tere notes payable Total current 15 abilities Long-tern notes payable Total 1iabilitie Equity Common stock, $S par value Pald-in capital in excess of par, common stock Retained earnings 549,591 $47, see 62,3415 128,15 135, 975 193,725 80,736159,25e tetal liabilities and equity 540,591$471,500 ORTEN Next 5 6