$[$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.

FORTEN COMPANY

Income Statement

For Current Year Ended December $31$

Sales $ $682,500$

Cost of goods sold $305,000$

Gross profit $377,500$

Operating expenses $($excluding depreciation$)$ $ $152,400$

Depreciation expense $40,750193,150$

Other gains $($losses$)$

Loss on sale of equipment $(25,125)$

Income before taxes $159,225$

Income taxes expense $52,250$

Net income $ $106,975$

FORTEN COMPANY

Comparative Balance Sheets

December $31$

Current Year Prior Year

Assets

Cash $ $79,900$ $ $93,500$

Accounts receivable $95,97070,625$

Inventory $305,656271,800$

Prepaid expenses $1,4102,295$

Total current assets $482,936438,220$

Equipment $137,500128,000$

Accumulated depreciation$$Equipment $(46,625)(56,000)$

Total assets $ $573,811$ $ $510,220$

Liabilities and Equity

Accounts payable $ $73,141$ $ $144,675$

Long$-$term notes payable $71,00078,750$

Total liabilities $144,141223,425$

Equity

Common stock, $$5$ par value $192,750170,250$

Paid$-$in capital in excess of par, common stock $67,5000$

Retained earnings $169,420116,545$

Total liabilities and equity $ $573,811$ $ $510,220$

Additional Information on Current Year Transactions

The loss on the cash sale of equipment was $$25,125($details in b$).$

Sold equipment costing $$106,875,$ with accumulated depreciation of $$50,125,$ for $$31,625$ cash.

Purchased equipment costing $$116,375$ by paying $$70,000$ cash and signing a long$-$term notes payable for the balance.

Paid $$54,125$ cash to reduce the long$-$term notes payable.

Issued $4,500$ shares of common stock for $$20$ cash per share.

Declared and paid cash dividends of $$54,100.$

Required:

Prepare a complete statement of cash flows using a spreadsheet using the indirect method.

Note: Enter all amounts as positive values.