?Required information

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

$[$The following information applies 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 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 $$13,125($details in $b).$

b$.$ ?Sold equipment costing $$70,875,$ ?with accumulated depreciation of $$38,125,$ ?for $$19,625$ ?cash.

c$.$ ?Purchased equipment costing $$104,375$ ?by paying $$46,000$ ?cash and signing a long$-$term notes payable for the balance.

d$.$ ?Paid $$49,325$ ?cash to reduce the long$-$term notes payable.

e$.$ ?Issued $3,300$ ?shares of common stock for $$20$ ?cash per share.

f$.$ ?Declared and paid cash dividends of $$51,700.$

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.

$\backslash$table$[[$FORTEN COMPANY$],[$Statement of Cash Flows$],[$For Current Year Ended December $31],[$Cash flows from operating activities$],[$Net income$],[$Adjustments to reconcile net income to net cash provided by operations:$],[$Income statement items not affecting cash$],[$Depreciation expense$],[$Loss on disposal of equipment$],[$Changes in current assets and current liabilities$],[$Decrease in accounts payable$],[$Decrease in prepaid expenses$],[$Increase in accounts receivable$],[$Increase in inventory$],[,$$$,0],[$Cash flows from investing activities$],[,,],[,,],[,,0],[$Cash flows from financing activities:$],[,,],[,,],[,,],[\backslash$table$[[-]]],[$res$,,0],[$Net increase $($decrease$)$ ?in cash,$$,0],[$Cash balance at December $31,$ ?prior year$],[$Cash balance at December $31,$ ?current year,$$,0]]$