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[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,

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[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 Recelvable 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 $6.125 (detais in b) b. Sold equipment costing $49,875, with accumulated depreciation of $31,125, for $12,625 cash c. Purchased equipment costing $97,375 by paying $32,000 cash and signing a long-term notes payable for the balonce d. Paid $46,525 cash to reduce the long-term notes payable. e. Issued 2,600 shares of common stock for $20 cash per share f. Declared and paid cash dividends of $50,300 equired: Prepare a complete statement of cash fiows using the indirect method for the current year. (Amounts to be deducted should be dicated with a minus sign.)

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