Prepare a complete statement of cash flows using the direct method.

Please use the template below. The highlighted sections are answer slots.

Forten Compony's current year income statement, comporative bolsnce sheets, and sdditional information follow. For the yeor, (1) all sales are credit sales, (2) all credits to Accounts Receivoble reflect cosh receipts from customers, (3) all purchsses of inventory are on credit, and (4) all debits to Accounts Poyable reflect cosh poyments for inventory. Additional Information on Current Year Transactions a. The loss on the cosh ssle of equipment was $6,125 (detsils in b ). b. Sold equipment costing $49,875, with occumulated depreciation of $31,125, for $12,625 cash. c. Purchssed equipment costing $97,375 by poying $32,000 cosh and signing o long-term notes poysble for the bolance. d. Poid $46,525 cosh to reduce the long-term notes poysble. e. lssued 2,600 shares of common stock for $20 cash per share. f. Declared and paid cosh dividends of $50,300