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, comparatlve balance sheets, and additional Information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Recelvable reflect cash recelpts 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 $19,125 (detalls in b ). b. Sold equipment costing $88,875, with accumulated depreclation of $44,125, for $25,625 cash. c. Purchased equipment costing $110,375 by paylng $58,000 cash and signing a long-term notes payable for the balance. d. Paid $51,725 cash to reduce the long-term notes payable. e. Issued 3,900 shares of common stock for $20 cash per share. f. Declared and pald cash dividends of $52,900. Requlred: 1. Prepare a complete statement of cash flows using the Indirect method for the current year. (Amounts to be deducted should be indlcated with a minus sign.) 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, comparatlve balance sheets, and additional Information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Recelvable reflect cash recelpts 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 $19,125 (detalls in b ). b. Sold equipment costing $88,875, with accumulated depreclation of $44,125, for $25,625 cash. c. Purchased equipment costing $110,375 by paylng $58,000 cash and signing a long-term notes payable for the balance. d. Paid $51,725 cash to reduce the long-term notes payable. e. Issued 3,900 shares of common stock for $20 cash per share. f. Declared and pald cash dividends of $52,900. Requlred: 1. Prepare a complete statement of cash flows using the Indirect method for the current year. (Amounts to be deducted should be indlcated with a minus sign.)