Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the
year, all sales are credit sales, all credits to Accounts Receivable reflect cash receipts from customers, all
purchases of inventory are on credit, and all debits to Accounts Payable reflect cash payments for inventory.
Additional Information on Current Year Transactions
a The loss on the cosh sole of equipment was $details in
b Sold equipment costing $ with sccumulated depreciation of $ for $ cosh
c Purchssed equipment costing $ by paying $ cash and signing a longterm notes paysble for the
bolance.
d Paid $ cosh to reduce the longterm notes payable.
e lssued shares of common stock for $ cash per share.
f Declared and paid cash dividends of $
Problem A Algo Indirect: Statement of cash flows LO A P P
Requlred:
Prepare a complete statement of cosh flows using the indirect method for the current year.
Note: Amounts to be deducted should be Indicated with a minus sign.
