12 Problems Help Save & Exit Check my Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Total revenue Cost of goods sold Depreciation expense office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense. Computer supplies expense Advertising expense Mileage expense Repairs expense C ten Total expenses Het income $18.643 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 11, 2020 Mar 31, 2020 Dec 31, 2019 points $54,602 S. $ 74,297 24,367 654 2,005 1,060 eBook 1,665 103.14 62,950 Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets Office equipment Accumulated depreciation office equipment Computer equipment Accumulated depreciation-Computer equipment Total assets Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings Total liabilities and equity 19.000 (2,450) (360) 19,000 (1,200 $88,150 $ 1,150 945 100.000 21.03 $126,748 Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2020. Owner Santana Rey contributed $27,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4,600 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.) (Prey 1 of 5 !!! Next > Chapter 12 Problems Statement of Cash Flows (Indirect) For Quarter Ended March 31, 2020 Cash flows from operating activities points Adjustments to reconcile net income to net cash provided by operating activities eBook Print References Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash balance at December 31, 2019 Cash balance at March 31, 2020 Graw Type here to search Prev 1 of 5