PLEASE HELP WILL LIKE ANS COTE PLZ I HAVE 15 mins

od CH 2 OUZO Forten Company's current year income statement comparative balance sheets, and additional information follow, For the year, ( all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers al purchases of inventory are on credit, (4) al debits to Accounts Payable reflect cash payments for inventory and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses. Prior leer PORTEN COMPANY Comparative Balance Sheets December 31 Current Tear Assets Cash $ 76,900 $91,51 92,950 18,625 302, 656 269, 1,3W 2,255 473,894 132,140 139,500 176,00 (45,625 155.000 5561,171 $530,160 Accounts receivable Lovestory Prepald expenses Total current assets Equipment Accum. depreciation Equipment Total assets Liabilities and Equity Accounts payable Short-tern notes payable $ 71,141 15,00 86,541 36.00 112,50 FM1, 615 , 151,25 6,750 71,00 168,254 116,40 18 189,758 81,50 111A 5567,77/ Total current liabilities Long-term notes payable Total Ilabilities Equity Cammon stock, $5 par value Pald-lo capital in excess of par, common stock Retained earnings Total liabilities and equity FORTEN COMPANY Taana 101 Mer FORTEN COMPANY Income Statement For Current Year Ended December 31 Sales $672,500 Cost of goods sold 303,000 Gross profit 369,500 Operating expenses Depreciation expense $ 38,750 Other expenses 150,400 189, 150 Other gains (losses) Loss on sale of equipment (23, 125/ 157,225 49,450 $107,775 Income before taxes Income taxes expense Net income Additional Information on Current Year Transactions a. The loss on the cash sale of equipment was $23.125 (details in ! b. Sold equipment costing $100,875, with accumulated depreciation of $48,125, for $29,625 cast c. Purchased equipment costing $114,375 by paying $66,000 cash and signing a long-term neste payable for me balance. d. Borrowed $5,800 cash by signing a short-term note payable e. Pald $59,125 cash to reduce the long-term notes payable 1. Issued 4,300 shares of common stock for $20 cash per share. g. Declared and paid cash dividends of $53,700 Next Required: 1. Prepare a complete statement of cash flows using the indirect method for the current year (Amounts to be deducted should be indicated with a minus sign.) 03 FORTEN COMPANY Statement of Cash Flows For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations. Cash flows from investing activities P Cash flows from financing activities, MacBook Required information Adjustments to reconcile net income to net cash provided by operations: 77.00 Cash flows from investing activities Cash flows from financing activities: Net increase (decrease) in cash Cash balance at December 31, prior your Cash balance at December 31, current year MacBook