The following are comparative balance sheets and an income statement for OMG Company. OMG Company Balance Sheets As of December $3120122011$ Assets: Cash $$30,000$ $$110,000$ Accounts receivable $187,500105,000$ Less: Allowance for Doubtful Accounts $(4,000)-0-$ Inventory $183,000230,000$ Property, Plant, and Equipment $125,000-0-$ Less: Accumulated Depreciation $(10,000)-0-$ Long$-$term investments $-0-65,000$ Totals $$511,500$ $$510,000$ Liabilities and shareholders$$ equity: Accounts payable $*$ $ $67,000$ $$120,000$ Operating expenses payable $22,50025,000$ Interest Payable $1,000-0-$ Note Payable, due $7/15/16125,000-0-$ Bonds payable $70,000100,000$ Common stock $125,000115,000$ Retained earnings $101,000150,000$ Totals $$511,500$ $$510,000$ OMG Company Income Statement For the Year Ended December $31,2012$ Sales $$580,000$ Cost of Goods sold $381,500$ Gross Profit $198,500$ Operating expenses$**192,000$ Income from operations $6,500$ Other expenses: Interest expense $(1,000)$ Loss on sale of long$-$term investment $(7,500)$ Net Loss $$(2,000)$ Additional Information $2012$: $*$ used for purchases of merchandise inventory only $**-$ Included in Operating expenses is depreciation expense of $$10,000$ and bad debts expense of $$4,000$ No Property, Plant or Equipment was sold in $2012$ During $2012$ OMG acquired $$125,000$ of equipment by signing a long$-$term, $10\%$ note payable for $$125,000$ Long$-$term investments were sold for cash Any change in Bonds Payable relates to repayment of principle $($face$)$ amounts. All issuances of Common Stock $($No par value$)$ were for cash Cash dividends were declared and paid in $2012.$ No stock dividends were declared or issued in $2012$ Prepare the Statement of Cash Flows of OMG Company for the year ended December $31,2012.$ A$.$ Prepare from the information above a statement of cash flows $($direct method$)$ using the $$Spreadsheet Approach$$ we demonstrated in class. B$.$ Using your spreadsheet from A above prepare a Statement of Cash Flows, in good form, for the year ended December $31,2012($A reconciliation schedule is not required.$)$ C$.$ Prepare from the financial statements$/$information used in A above the Operating Activities section $($indirect method$)$ of the SCF spreadsheet for the year ended December $31,2012.$