Please see attached,, thank you. Sorry about that Required information [The...
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Accounting
Please see attached,, thank you.
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Required information [The following information applies to the questions displayed belowj] 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 Recelvable 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. Required: Prepare a complete statement of cash flows using a snreadsheot usinn the indirect method IEnter all amounts as o Additional Information on Current Year Transactions a. The loss on the cash sale of equipment was $19.125 (details 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 paying $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 paid cash dividends of $52,900
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