BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2012 s 25,107 18,193 43,300 Computer services revenue Net sales Total revenue $14,352 330 1,230 Cost of goods sold Depreciation expense-Office equipment Depreciation expense-Computer ces equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Repairs expense-Computer 2,550 475 1,775 1,235 530 290 950 9 23,717 Total expenses Net income 19,583 BUSINESS SOLUTIONS FS Required: Prepare a statement of cash flows from the financial data of Business Solutions provided above using the indirect method for the three months ended March 31, 2012. Recall that the owner Santana Rey contributed $33,000 to the business in exchange for additional stock in the first quarter of 2012 and has received $3,800 in cash dividends. (Amounts to be deducted should be indicated with a minus sign. Leave no cells blank be certain to enter "O" wherever required. Omit the "$" sign in your response.) BUSINESS SOLUTIONS Statement of Cash Flows (Indirect For Quarter Ended March 31, 2012 Cash flows from operating activities S19583 Net income Adjustments to reconcile net income to net cash provided by operating activities Depreciation expense-office equioment -6 Increase in computer supplies Decreace in prepaid insurance Decrease in accounts payable ncrease in wages payable ease in unearned computer service reven Net cash usedn Cash flows from investing activities operating activities Not cash flow from investina activities K Prev 2 of 4 Next> Depreciation expense-office equipment Depreciation expense-computer equipment 12 27195 -674 Increase in accounts receivable 1585 Increase in computer supplies Decrease in prepaid insurance Decrease in accounts payable Increase in wages payable Decrease in unearned computer service revenue 700 operating activities Net cash Gardin Net cash (used in operating activities Cash flows from investing activities Net cash flow from investing activities Cash flows from financing activities Cash paid for dividends Cash received from stock issuance Net cash provided by financing activities Net increase in cash Cash balance at December 31, 2011 Cash balance at March 31, 2012 F4 FS