Required information [The following information applies to the questions displayed below] Forten Company's current year income statement, comparative balance sheets, and additional information follow. For th 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. FORTEN COMPANY Spreadsheot for Statement of Cash Elows For Current Year Ended December 31 Required information Pand-in capaat in excess of par value, common stock Retained earnings Slatement of cash flows Operating activities Receipt from sale di equipment Investing aclivites Financing activities Investing activities Financing activities Non cash investing and financing activities Purchase of equipment financed by long-term notes payable