could someone please explain to me why i was marked wrong on these columns and what the correct answer should be? thank you so much!

Required information Use the following information for the Problems below. [The following information applies to the questions displayed below.) Forten Company, a merchandiser, recently completed its calendar-year 2017 operations. 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. The company's income statement and balance sheets follow. 2017 2016 FORTEN COMPANY Comparative Balance Sheets December 31, 2017 and 2016 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term notes payable Total liabilities Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity $ 49,800 65,810 275,656 1,250 392,516 157,500 (36,625) $513,391 $ 73,500 50,625 251,800 1,875 377,800 108,000 (46,000) $439,800 $ 53,141 10,000 63,141 65,000 128,141 $114,675 6,000 120,675 48,750 169,425 162,750 37,500 185.000 $513,391 150,250 0 120, 125 $439,800 FORTEN COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Depreciation expense $ 20,750 Other expenses 132,400 Other gains (losses) Loss on sale of equipment Income before taxes Income taxes expense Not income $582,500 285,000 297,500 153, 150 (5,125) 139, 225 24,250 $ 114,975 Problem 12-3A Indirect: Statement of cash flows LO A1, P1, P2, P3 Additional Information on Year 2017 Transactions a. The loss on the cash sale of equipment was $5,125 (details in b). b. Sold equipment costing $46,875, with accumulated depreciation of $30,125, for $11,625 cash. c. Purchased equipment costing $96,375 by paying $30,000 cash and signing a long-term note payable for the balance. d. Borrowed $4,000 cash by signing a short-term note payable. e. Paid $50,125 cash to reduce the long-term notes payable. f. Issued 2,500 shares of common stock for $20 cash per share. g. Declared and paid cash dividends of $50,100. Required: 1. Prepare a complete statement of cash flows; report its operating activities using the indirect method. (Amounts to be deducte should be indicated with a minus sign.) Answer is not complete. FORTEN COMPANY Statement of Cash Flows For Year Ended December 31, 2017 Cash flows from operating activities Net income $ 114,975 Adjustments to reconcile net income to net cash provided by operations: Depreciation expense 20,750 Loss on disposal of equipment 5,125 Accounts receivable increase (15,185) Inventory increase (23,856) Prepaid expense decreaso 625 Accounts payablo decrease (61,534) Cash borrowed on short-term noto 4,000 $ Net cash provided by operating activities IS Cash flows from investing activities Cash received from sale of equipment 11,625 Cash paid for equipment 30,000 44,900 > Required information Prepaid expense decrease Accounts payable decrease Cash borrowed on short-term note Net cash provided by operating activities Cash flows from investing activities Cash received from sale of equipment Cash paid for equipment 625 (61,534) 4,000 X $ 44,900 11,625 30,000 41,625 Net cash used in investing activities Cash flows from financing activities: Cash paid on long-term note Cash received from issuing stock Cash paid for dividends (50,125) 50,000 50,100 Net cash used in financing activities Net increase (decrease) in cash Cash balance at beginning of year Cash balance at end of year 49,975 $ 136,500 73,500 $ 210,000