25 points eBook Print U References 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 Computer services revenue Net sales 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-Computer Total expenses Net income Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets Office equipment $14,852 370 1,220 2,450 465 2,275 1,265 600 240 910 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 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 $ 24,907 18, 293 43,200 24,647 $18,553 Mar 31, 2020 $81,967 24,067 614 2,065 1,020 755 $ 110,488 7,400 (740) 19,200 (2,440) $133,908 0 895 0 895 Dec. 31, 2019 $60,262 4,968 0 540 1,595 755 68,120 7,400 (370) 19,200 (1,220) $93,130 $ 1,180 590 2,000 3.770

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