Required information

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

$[$The following information opplies 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 ore credit soles, $(2)$ oll credits to Accounts Receivable reflect cosh receipts from customers, $(3)$ all purchoses of inventory are on credit, and $(4)$ all debits to Accounts Payable reflect cosh peyments for inventory.

Additional Information on Current Year Transactions

a$.$ The loss on the cash sole of equipment was $$18,125($detoils in $b).$

b$.$ Sold equipment costing $$85,875,$ with accumulated depreciation of $$43,125,$ for $$24,625cosh.$

c$.$ Purchosed equipment costing $$109,375$ by paying $$56,000$ cash and signing a long$-$term notes poyable for the balance.

d$.$ Poid $$51,325$ cash to reduce the long$-$term notes poy$$ble$.$

e$.$ Issued $3,800$ shares of comman stock for $$20$ cash per share.

f$.$ Declared and paid cosh dividends of $$52,700.$

Problem $16-3$A $($Algo$)$ Indlrect: Statement of cash flows LO A$1,$ P$2,$ P$3$

Required:

Prepore o complete statement of cosh flows using the indirect method for the current year.

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

FORTEN COMPANY

statemant or Catah Flowit

For Curtent Yeas En$$ad Decamber$51$