BUSINESS SOLUTIONS

Income Statement

For Three Months Ended March 31, 2018

Computer services revenue $24,807

Net sales 18,493

Total revenue 43,300

Cost of goods sold $14,552

Depreciation expense?Office equipment 330

Depreciation expense?Computer equipment 1,180

Wages expense 2,250

Insurance expense 455

Rent expense 2,475

Computer supplies expense 1,265

Advertising expense 530

Mileage expense 250

Repairs expense?Computer 950

Total expenses 24,237

Net income $19,063

BUSINESS SOLUTIONS

Comparative Balance Sheets

December 31, 2017, and March 31, 2018

Mar. 31, 2018 Dec. 31, 2017

Assets

Cash $81,367 $56,132

Accounts receivable 24,567 4,868

Inventory 624 0

Computer supplies 2,035 510

Prepaid insurance 1,070 1,655

Prepaid rent 825 825

Total current assets 110,488 63,990

Office equipment 7,700 7,700

Accumulated depreciation?Office equipment (660) (330)

Computer equipment 19,600 19,600

Accumulated depreciation?Computer equipment (2,360) (1,180)

Total assets $134,768 $89,780

Liabilities and Equity

Accounts payable $0 $1,120

Wages payable 945 500

Unearned computer service revenue 0 1,700

Total current liabilities 945 3,320

Equity

Common stock 112,000 79,000

Retained earnings 21,823 7,460

Total liabilities and equity $134,768 $89,780

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BUSINESS SOLUTIONS Statement of Cash Flows For Quarter Ended March 31 2018 Cash flows from operating activities Justments to reconcile net Income to net cash provided by operating activities Depreciation expense Office equipment Depreciation expense Computer equipment ass in accounts payable Decrease in wages payable Decrease in untamed computer service reven Cash received from stock issuance Cash flows from invest investing activities Net cash used in Investing activities F Cash flows from financing activities Cash balance at December 31 2017 Cash balance at March 31 2018