Required information

Use the following information for the Problems below. $($Algo$)$

$[$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.

Additional Information on Current Year Transactions

a$.$ The loss on the cash sale of equipment was $$13,125($details in $b).$

b$.$ Sold equipment costing $$70,875,$ with accumulated depreciation of $$38,125,$ for $$19,625$ cash.

c$.$ Purchased equipment costing $$104,375$ by paying $$46,000$ cash and signing a long$-$term notes payable for the balance.

d$.$ Paid $$49,325$ cash to reduce the long$-$term notes payable.

e$.$ Issued $3,300$ shares of common stock for $$20$ cash per share.

f$.$ Declared and paid cash dividends of $$51,700.$

Problem $12-3$A $($Algo$)$ Indirect: Statement of cash flows LO A$1,$ P$2,$ P$3$

Required: $$

Prepare a complete statement of cash flows using the indirect method for the current year. Note: Amounts to be deducted should be indicated with a minus sign.

$\backslash$table$[[$FORTEN COMPANY$],[$Statement of Cash Flows$],[$For Current Year Ended December $31],[$Cash flows from operating activities$],[$Net income$],[$Adjustments to reconcile net income to net cash provided by operations:$],[$Income statement items not affecting cash$],[$Depreciation expense$],[$Loss on disposal of equipment$],[$Changes in current assets and current liabilities$],[$Decrease in accounts payable$],[$Decrease in prepaid expenses$],[$Increase in accounts receivable$],[$Increase in inventory$],[,$$$,0],[$Cash flows from investing activities$],[,,],[,,],[,,0],[$Cash flows from financing activities:$],[,,],[,,],[,,],[\backslash$table$[[-]]],[$res$,,0],[$Net increase $($decrease$)$ in cash,$$,0],[$Cash balance at December $31,$ prior year$],[$Cash balance at December $31,$ current year,$$,0]]$