prepare

statument

of

CASH

RTow

using

endirect Method

for Current

year.

$[$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.

FORTEN COMPANY

Income Statement For Current Year Ended December $31$

Sales

Cost of goods sold

Gross profit

Operating expenses $($excluding depreciation$)$

Depreciation expense

Other gains $($losses$)$

Loss on sale of equipment

Income before taxes

Income taxes expense

Net income

FORTEN COMPANY

Comparative Balance Sheets

December $31$

$\backslash$table$[[$Assets$,$Current Year,Prior Year$],[$Cash$,$$$78,400,$$$92,500$