26.1"4611 5:23 PM 1.pdf Green Company's Balance Sheets and Income Statement for year 2011 are given below. Use B/S, I/S, and the following additional information to prepare the statement of cash flow for Green Company for fiscal year 2011 using both direct method indirect method. 05/20/2011, Green purchased a piece of equipment, paid cash $5,000. In addition, Green paid back $15,000 long-term debt. INCOME STATEMENT for year ended December 31, 2011 Sales Revenue $56,000 Expenses and Losses: Cost of Goods Sold (30,000) Wages (2.000) Depreciation (1.000) Rent Loss from Disposal of Machine (4.000 ($40,000) Income Before Taxes $16.000 (3,000) BALANCE SHEET as of December 31, 2010, and December 31, 2011 12/31/2010 12/31/2011 ASSETS Cash 7,000 4.000 A/ Receivable 13,000 10,000 Prepaid Rent 4,000 6,000 Inventory 33,000 35,000 PP&E(gross) 55.000 48.000 Less Ace Dep (10.000) (6.000) 102.000 97.000 20,000 L&SE A/ Payable W/Payable LT Debt 9,000 17,000 7,000 15.000 30,000 Contr. Cap' 30.000 30,000 R/Earnings 13,000 102.000 28.000 97,000 Advertisement