Below are the financial statements of Meteor Company:

Meteor Company
Income Statements
For the Year Ended January 31, 2028
Sales, net	$152,000
Cost of goods sold	61,000
Gross profit	91,000
Operating expenses	45,000
Operating income	46,000
Interest expense	5,000
Interest before taxes	41,000
Income taxes	13,000
Net income	$28,000

Meteor Company
Balance Sheets
January 31
	2028	2027
Cash	$11,000	$6,000
Accounts receivable, net	22,000	17,000
Inventory	31,000	37,000
Prepaid insurance	6,500	5,000
Property, plant and equipment	49,000	45,000
Accumulated depreciation	(15,500)	(13,000)
Total assets	$104,000	$97,000
Accounts payable	$13,000	$12,000
Salaries payable	7,200	9,400
Dividends payable	1,800	1,100
Income taxes payable	5,000	9,000
Bank loan payable	6,000	11,500
Common shares	9,000	5,000
Retained earnings	62,000	49,000
Total liabilities and shareholders’ equity	$104,000	$97,000

Additional information:

1) Operating expenses are composed of: Depreciation $7,000; Salaries $25,000; Gain on Sale of Equipment $5,000; Other operating expenses $18,000.

2) Other operating expenses are cash expenses.

3) Equipment was purchased during the year for $12,000 cash.

4) Equipment was sold for cash during the year. The original cost of the equipment was $8,000 and the accumulated depreciation was $4,500.

5) Dividends were declared and paid during the year.

Required:

Prepare a cash flow statement for the year ended January 31, 2028 using the direct method and indirect method.