Required information

$[$The following information applles 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 Recelvable reflect cash recelpts 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 $$14,125($detalls in $b).$

b$.$ Sold equlpment costing $$73,875,$ with accumulated depreclation of $$39,125,$ for $$20,625$ cash.

c$.$ Purchased equipment costing $$105,375$ by payling $$48,000$ cash and signing a long$-$term notes payable for the

balance.

d$.$ Pald $$49,725$ cash to reduce the long$-$term notes payable.

e$.$ Issued $3,400$ shares of common stock for $$20$ cash per share.

f$.$ Declared and pald cash dividends of $$51,900.$