$3)$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 and 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 $(3,000)$

Loss from Disposal of Machine $(4,000)$

$($$$40,000)$

Income Before Taxes $$16,000$

BALANCE SHEET

as of December $31,2010,$ and December $31,2011$

$12/31/201012/31/2011$

ASSETS

Cash $7,0004,000$

A$/$ Receivable $13,00010,000$

Prepaid Rent $4,0006,000$

Inventory $33,00035,000$

PP&E$($gross$)55,00048,000$

Less Acc Dep $(10,000)(6,000)$

$102,00097,000$

L&SE

A$/$ Payable $20,00017,000$

W$/$ Payable $9,0007,000$

LT Debt $30,00015,000$

Contr. Capital $30,00030,000$

R$/$Earnings $13,00028,000$

$102,00097,000$