m $\backslash$table$[[\backslash$table$[[$FORTEN COMPANY$],[$Comparative Balance Sheets$],[$December $31]]],[,$Current Year,Prior Year$],[$Assets$],[$Cash$,$$ $63,400,$$ $82,500],[$Accounts receivable,$79,360,59,625],[$Inventory$,289,156,260,800],[$Prepaid expenses,$1,300,2,075],[$Total current assets,$433,216,405,000],[$Equipment$,148,500,117,000],[$Accumulated depreciation$-$Equipment,$(41,125),(50,500)],[$Total assets,$ $540,591,$$ $471,500],[$Liabilities and Equity$],[$Accounts payable,$ $62,141,$$ $128,175],[$Long$-$term notes payable,$73,200,65,550],[$Total liabilities,$135,341,193,725],[$Equity$],[$Common stock, $$5$ par value,$176,250,159,250],[$Paid$-$in capital in excess of par, common stock,$51,000,0],[$Retained earnings,$178,000,118,525],[$Total liabilities and equity,$ $540,591,$$ $471,500]]$

Additional Information on Current Year Transactions

a$.$ The loss on the cash sale of equipment was $$14,125($details in $b).$

b$.$ Sold equipment costing $$73,875,$ with accumulated depreciation of $$39,125,$ for $$20,625$ cash.

c$.$ Purchased equipment costing $$105,375$ by paying $$48,000$ cash and signing a long$-$term notes payable for the balance.

d$.$ Paid $$49,725$ cash to reduce the long$-$term notes payable.

e$.$ Issued $3,400$ shares of common stock for $$20$ cash per share.

f$.$ Declared and paid cash dividends of $$51,900.$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.

Required:

$1.$ Prepare a complete statement of cash flows using the indirect method for the current year.

$2.$ Prepare a complete statement of cash flows using a spreadsheet using the indirect method.