spreads

On Page 177 .. “An Apparent Arbitrage and Resolution” .. it says that the forward price is $0.20. In TABLE 3 on the same page it says Long forward @$0.20. But in the same table at Time 1 the cash flows for this position is $0.20-F(0,1). If one is long forward the value of the forward at time t is (Spot price at time t- Forward price). Can somebody explain how the cash flows in the table correspond to the value of the forward? Thanks in advance. Any help is appreciated.