What am I doing wrong here

Required information [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, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses. FORTEN COMPANY Comparative Balance Sheets December 31 Prior Year Current Year Assets $ 78,500 55,625 256,800 1,995 392,920 Cash $57,400 73,320 Accounts receivable Inventory Prepaid expenses 283,156 1,260 415,136 Total current assets Equipment Accum. depreciation-Equipment 152,500 113,000 (48,500) (39,125) $528,511 $457,420 Total assets Liabilities and Equity Accounts payable Short-term notes payable $ 58,141 $122,175 11,500 69,641 7,000 Total current liabilities 129,175 Long-term notes payable 62,500 53,750 Total liabilities Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings 182,925 132,141 170,250 45,000 181,120 155,250 0 119,245 Total liabilities and equity $528,511 $457,420 FORTEN COMPANY Income Statement For Current Year Ended December 31 Sales $607,500 290,000 317,500 Cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses $25,750 137,400 163,150 Other gains (losses) Loss on sale of equipment (10,125) Income before taxes 144,225 31,250 Income taxes expense $112,975 Net income Additional Information on Current Year Transactions a. The loss on the cash sale of equipment was $10,125 (details in b) b. Sold equipment costing $61,875, with accumulated depreciation of $35,125, for $16,625 cash. c. Purchased equipment costing $101,375 by paying $40,000 cash and signing a long-term note payable for the balance. d. Borrowed $4,500 cash by signing a short-term note payable. e. Paid $52,625 cash to reduce the long-term notes payable. f. Issued 3,000 shares of common stock for $20 cash per share. g. Declared and paid cash dividends of $51,100. FORTEN COMPANY Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 Analysis of Changes December 31, Prior Year December 31, Current Year Debit Credit Balance sheet-debit Cash 78,500 21,100 57,400 Accounts receivable 55,625 17,695 73,320 256,800 26,356 283,156 Inventory Prepaid expenses 1,995 735 1,260 Equipment 113,000 101,375 61,875 152,500 567,636 505,920 Balance sheet-credit Accumulated depreciation-Equipment 48,500 35,125 25,750 39,125 Accounts payable 122,175 64,034 58,141 Short-term notes payable 4,500 7,000 11,500 Long-term notes payable 53,750 52,625 61,375 62,500 Common stock, $5 par value 170,250 155,250 15,000 Paid-in capital in excess of par value, common stock 0 45,000 45,000 Retained earnings 119,245 86,879 61,875 94,241 $ 505,920 480,757 EA Required information [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, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses. FORTEN COMPANY Comparative Balance Sheets December 31 Prior Year Current Year Assets $ 78,500 55,625 256,800 1,995 392,920 Cash $57,400 73,320 Accounts receivable Inventory Prepaid expenses 283,156 1,260 415,136 Total current assets Equipment Accum. depreciation-Equipment 152,500 113,000 (48,500) (39,125) $528,511 $457,420 Total assets Liabilities and Equity Accounts payable Short-term notes payable $ 58,141 $122,175 11,500 69,641 7,000 Total current liabilities 129,175 Long-term notes payable 62,500 53,750 Total liabilities Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings 182,925 132,141 170,250 45,000 181,120 155,250 0 119,245 Total liabilities and equity $528,511 $457,420 FORTEN COMPANY Income Statement For Current Year Ended December 31 Sales $607,500 290,000 317,500 Cost of goods sold Gross profit Operating expenses Depreciation expense Other expenses $25,750 137,400 163,150 Other gains (losses) Loss on sale of equipment (10,125) Income before taxes 144,225 31,250 Income taxes expense $112,975 Net income Additional Information on Current Year Transactions a. The loss on the cash sale of equipment was $10,125 (details in b) b. Sold equipment costing $61,875, with accumulated depreciation of $35,125, for $16,625 cash. c. Purchased equipment costing $101,375 by paying $40,000 cash and signing a long-term note payable for the balance. d. Borrowed $4,500 cash by signing a short-term note payable. e. Paid $52,625 cash to reduce the long-term notes payable. f. Issued 3,000 shares of common stock for $20 cash per share. g. Declared and paid cash dividends of $51,100. FORTEN COMPANY Spreadsheet for Statement of Cash Flows For Current Year Ended December 31 Analysis of Changes December 31, Prior Year December 31, Current Year Debit Credit Balance sheet-debit Cash 78,500 21,100 57,400 Accounts receivable 55,625 17,695 73,320 256,800 26,356 283,156 Inventory Prepaid expenses 1,995 735 1,260 Equipment 113,000 101,375 61,875 152,500 567,636 505,920 Balance sheet-credit Accumulated depreciation-Equipment 48,500 35,125 25,750 39,125 Accounts payable 122,175 64,034 58,141 Short-term notes payable 4,500 7,000 11,500 Long-term notes payable 53,750 52,625 61,375 62,500 Common stock, $5 par value 170,250 155,250 15,000 Paid-in capital in excess of par value, common stock 0 45,000 45,000 Retained earnings 119,245 86,879 61,875 94,241 $ 505,920 480,757 EA