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.

Addltional Information on Current Year Transactions

a$.$ The loss on the cash sale of equipment was $$22,125($details in $b).$

b$.$ Sold equipment costing $$97,875,$ with accumulated depreciation of $$47,125,$ for $$28,625$cash.

c$.$ Purchased equipment costing $$113,375$ by paying $$64,000$ cash and signing a long$-$term notes payable for the

balance.

d$.$ Paid $$52,925$ cash to reduce the long$-$term notes payable.

e$.$ Issued $4,200$ shares of common stock for $$20$ cash per share.

f$.$ Declared and paid cash dividends of $$53,500.$