what is total assets at end of year 1?

The following statement of cash flows (using both the direct and indirect methods) is available at the end of a company's FIRST YEAR OF OPERATIONS (NOTE: This means that beginning balance in all accounts was $o): Indirect Method Net Income + Depreciation Expense - Increase in A/R Increase in Inventory + increase in A/P Gain on Sale of Equipment Cash flow from Operations Direct Method Cash received from customers Cash paid for inventory Cash paid for expenses $48,000 (26,000) (10,000) $11,000 8,000 (4,000) (6,000) 5,000 (2,000) $12,000 Cash flow from Operations $12,000 Purchased equipment Sold equipment Cash flow from Investing ($24,000) Purchased equipment 5,000 Sold equipment ($19,000) Cash flow from Investing ($24,000) 5,000 ($19,000) Issued debt Sold Stock Paid Dividends Cash flows from Financing $20,000 10,000 (15,000) $15,000 Issued debt Sold Stock Paid Dividends Cash flows from Financing $20,000 10,000 (15,000) $15,000 Increase in Cash $8,000 Increase in Cash $8,000