12.

Serial Problem-12 1 Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data 300 DO . BUSINESS SOLUTIONS Ircon Statement Foe Three Months Ended March 31, 2020 Computer services reven Net sales Total revenue Cost of goods sold Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages experte Insurance expense Hent expense Computer supplies expense Advertising expense Mileage wense Hepairs pense-Computer Total expenses it income $24,907 18.593 43,500 314,352 1,210 2,856 095 1.975 1,245 SS 240 968 24,367 $19,333 Durances BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 Mar 31, 2020 Dec 31, 2019 $ 2,937 23,867 356,723 S. 2.05 1.ee 165 19, 1.55 (020) 29, Cash Accounts receivable Inventory Computer supplies Prepaid inace Prepaid rent Total current assets Office equipo Accumulated depreciation office equipment Computer upant Accultad depreciation Computer Total assets Liabilities and Founty Accounts payable Dwyable Dearned computer service reven Total current Halitiet quity stock tantsin total listies and equity 54,30 2. (310) 19,00 20 55. 5 11.12 50 915 O 915 110, 2. 513) 10.10 Serial Problem 12 Saved 1 915 o 915 530 1,900 3,550 Hages payable Unearned computer service revenue Total current liabilities Equity Connon stock Retained earnings Total liabilities and equity 100 point 110,000 22.573 $133,488 79,000 8,960 390,610 4500 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 $31,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4,800 in cash dividends. (Amounts to be deducted should be indicated with a minus slgn.) Print DUSINESS SOLUTIONS statement of Cash Flow (Indirect) For Quarter Ended March 31, 2020 Cashflows from operating activities References Adjustments to reconoteret income to net cash provided by operating activities Cash flows from investing activities Netcash used in investing activities Cash flows from finanong activities Cash balance at December 31, 2010 Cash balance at March 31, 2020