Additional Information on Current Year Transactions 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, and (4) all debits to Accounts Payable reflect cash payments for inventory. 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 inventor Required: Prepare a complete statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign. (1) Required information Required information Additional Information on Current Year Transactions a. The loss on the cash sale of equipment was \\( \\$ 11,125 \\) (details in b). b. Sold equipment costing \\( \\$ 64,875 \\), with accumulated depreciation of \\( \\$ 36,125 \\), for \\( \\$ 17,625 \\) cash. c balance. a equipment costing \\( \\$ 102,375 \\) by paying \\( \\$ 42,000 \\) cash and signing a long-term notes payable for the d. Paid \\( \\$ 48,525 \\) cash to reduce the long-term notes payable. e. Issued 3,100 shares of common stock for \\( \\$ 20 \\) cash per share. f. Declared and paid cash dividends of \\( \\$ 51,300 \\). Required: Prepare a complete statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign