A gear assembly having a shaft, a clutch assembly mounted to the shaft and moveable between forward and reverse positions, forward and reverse drive gears that rotate independently of the shaft, and a transfer gear assembly. When in the forward position, the clutch assembly engages the forward drive gear so that the forward drive gear rotates in the same direction as the shaft. When in the reverse position, the clutch assembly engages the reverse drive gear, which engages the transfer gear assembly to rotate the forward drive gear in the opposite direction as the shaft. The gear assembly may be used on a bicycle to allow a rider to propel the bicycle forward by either pedaling forward or backward.