[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 $12,125 (details in b ). b. Sold equipment costing $67,875, with accumulated depreciation of $37,125, for $18,625 cash. c. Purchased equipment costing $103,375 by paying $44,000 cash and signing a long-term notes payable for the balance. d. Paid $48,925 cash to reduce the long-term notes payable. e. Issued 3,200 shares of common stock for $20 cash per share. f. Declared and paid cash dividends of $51,500. roblem 16-3A (Algo) Indirect: Statement of cash flows LO A1, P2, P3 equired: Prepare a complete statement of cash flows using the indirect method for the current year. (Amounts to be deducted should be idicated with a minus sign.) Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Changes in current assets and current liabilities \begin{tabular}{l} Cash flows from investing activities \\ \hline \end{tabular} Cash flows from financing activities