Required information

Use the following information for the Problems below. $($Algo$)$

$[$The following information appios to the questions dispiayed below.$]$

Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the

year, $(1)$ all sales are credit sales, $(2)$ al credits to Accounts Peceivabie reflect cash receipts from customers, $(3)$ al

purchases of imventory are on credit, and $(4)$ all debits to Accounts Payable refiect cash payments for irwentory$-$

Additional Information on Current Year Transactions

a$.$ The loss on the cash sale of equipment was $$21,125($details in b$).$

b$.$ Sold equipment costing $$94,875,$ with accumulated depreciation of $$46,125,$ for $$27,625$ cash.

c$.$ Purchased equipment costing $$112,375$ by paying $$62,000$ cash and signing a langterm notes payabie for the

balance.

d$.$ Paid $$52,525$ cash to reduce the long term nates payable.

e$.$ Issued $4,100$ shares of common stock for $$20$ cash per share.

$t$ Declared and paid cash dividends of $$53,300.$

Problem $12-3$A $($Algo$)$ Indirect: Statement of cash flows LO A$1,$ P$2,$ P$3$

Required:

Prepare a complete statement of cash flows using the indirect method for the current year.

Note: Amounts to be deducted should be indicated with a minus sign.