Additional Information on Year 2017 Transactions a. The loss on the cash sale of equipment was $23.125 (details in b). b. Sold equipment costing $100,875, with accumulated depreciation of $48,125, for $29,625 cash. c. Purchased equipment costing $114,375 by paying $66,000 cash and signing a long-term note payable for the balance. d. Borrowed $5,800 cash by signing a short-term note payable. e. Paid $59,125 cash to reduce the long-term notes payable. f. Issued 4,300 shares of common stock for $20 cash per share. g. Declared and paid cash dividends of $53.700. Required: 1. Prepare a complete statement of cash flows; report its operating activities using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) FORTEN COMPANY Statement of Cash Flows For Year Ended December 31, 2017 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations 1 Cash flows from investing activities Cash flows from financing activities FORTEN COMPANY Statement of Cash Flows For Year Ended December 31, 2017 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations: Cash flows from investing activities Cash flows from financing activities: Net increase (decrease) in cast Cash balance at beginning of yea Cash balance at end of year lolol Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow Sales Cost of goods sold Operating expenses Common Size Percents 2017 2016 2015 100.0% 100.6 100. 8 63.4 61.2 57. 9 14.4 13. 9 1 4.2 Trend Percents 2017 2016 2015 1 85.1% 103.96 100.8% 1 15.1 109.8 100.0 106.7 101.7 100.0 Determine the net income for the following years. (Enter all amounts as positive values.) 2017 2016 2015 100.000 Sales $ Cost of Goods Sold Operating Expenses Net Income 14.200 27.900 Did the net income increase, decrease, or remain unchanged in this three-year period? Remained unchanged Net income increased Net income decreased