2 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, 2022 Computer services revenue Net sales $ 24,507 17,793 Total revenue 42,300 Cost of goods sold $ 14,352 Depreciation expense-Office 320 equipment Depreciation expense-Computer equipment 1,240 Wages expense 3,150 Insurance expense 525 Rent expense 2,275 Computer supplies expense 1,225 Advertising expense 570 Mileage expense 280 Repairs expense-Computer 940 Total expenses Net income 24,877 $ 17,423 Assets BUSINESS SOLUTIONS Comparative Balance Sheets March 31, December 2022 31, 2021 Cash $ $ 74,617 57,182 Accounts receivable 24,467 5,168 Inventory 624 0 Computer supplies 2,045 520 Prepaid insurance 1,060 1,605 Prepaid rent 785 785 Total current assets. 103,598 65,260 Office equipment 7,100 7,100 Accumulated depreciation-Office (640) equipment (320) Computer equipment 19,200 19,200 Accumulated depreciation-Computer (2,480) (1,240) equipment $ $ Total assets 126,778 90,000 Liabilities and Equity Accounts payable $ 0 $ 1,200 Wages payable 895 540 Unearned computer service revenue 0 2,200 Total current liabilities. 895 3,940 Equity Common stock 105,000 Retained earnings 20,883 78,000 8,060 $ $ Total liabilities and equity 126,778 90,000