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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.

$\backslash$table$[[\backslash$table$[[$FORTEN COMPANY$],[$Comparative Balance Sheets December $31]],$Current Year,Prior Year$],[$Assets$,,],[$Cash$,$$ $49,800,$$ $73,500],[$Accounts receivable,$65,810,50,625],[$Inventory$,275,656,251,800],[$Prepaid expenses,$1,250,1,875],[$Total current assets,$392,516,377,800],[$Equipment$,157,500,108,000],[$Accumulated depreciation$-$Equipment,$(36,625),(46,000)$