Company Name Statement of Cash Flows For Year Ended December 31, 201 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current assets and current liabilities m 2 Net Cash provided by operating activities - Cash flows from investing activities Net cash from investing activities Cash flows from financing activities Net cash used in financing activities Net increase in cash SO Cash balance at December 31, 201_ Cash balance at December 31, 201 SO Shoot1 Shot ch Concepts + A SP 16 Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business. (Although the serial problem allowed for various ownership changes in earlier chapters, we will prepare the statement of cash flows using the following financial data.) BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 Mar 31, 2020 Dec 31, 2019 $48,372 5.668 0 Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets Office equipment Accumulated depreciation-office equipment $ 68,057 22,867 704 2,005 1,110 825 95.568 8,000 (800) 580 1,665 825 57.110 8,000 (400) To Questions 2020 Merwe T 1 A December 31, 2019, and March 31, 2020 Mar. 31, 2020 Dec 31, 2019 $48,372 5,668 0 Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation--Computer equipment Total assets Liabilities and Equity Accounts payable Waves Davable $ 68,057 22,867 704 2,005 1,110 825 95.568 8,000 (800) 20,000 (2.500) $120,268 580 1,665 825 57,110 8,000 (400) 20,000 (1.250 $83.460 $ 0 $ 1.100 500 875 To Questions A 20,000 (2,500) $120,268 20,000 (1,250) $83.460 $ 1,100 computer equipment Accumulated depreciation-Computer equipment Total assets Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings Total liabilities and equity 875 0 500 1.500 3.100 875 98,000 21,393 $120.268 73.000 78360 $83.460 BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Computer services revenue Net sales $25.307 180g Questions ARA Income Statement For Three Months Ended March 31, 2020 $25.307 18,693 44.000 $14,052 400 1,250 3.250 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 555 2,475 1,305 600 320 960 25,167 $18,833 555 2,475 1,305 600 Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Repairs expense-Computer Total expenses Net income 320 960 25.167 $18.833 Required Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2020. Recall that owner Santana Rey contributed $25,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4.800 in cash dividends. Check Cash flows used by operations $(515) Company Name Statement of Cash Flows For Year Ended December 31, 201 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current assets and current liabilities m 2 Net Cash provided by operating activities - Cash flows from investing activities Net cash from investing activities Cash flows from financing activities Net cash used in financing activities Net increase in cash SO Cash balance at December 31, 201_ Cash balance at December 31, 201 SO Shoot1 Shot ch Concepts + A SP 16 Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business. (Although the serial problem allowed for various ownership changes in earlier chapters, we will prepare the statement of cash flows using the following financial data.) BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 Mar 31, 2020 Dec 31, 2019 $48,372 5.668 0 Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets Office equipment Accumulated depreciation-office equipment $ 68,057 22,867 704 2,005 1,110 825 95.568 8,000 (800) 580 1,665 825 57.110 8,000 (400) To Questions 2020 Merwe T 1 A December 31, 2019, and March 31, 2020 Mar. 31, 2020 Dec 31, 2019 $48,372 5,668 0 Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation--Computer equipment Total assets Liabilities and Equity Accounts payable Waves Davable $ 68,057 22,867 704 2,005 1,110 825 95.568 8,000 (800) 20,000 (2.500) $120,268 580 1,665 825 57,110 8,000 (400) 20,000 (1.250 $83.460 $ 0 $ 1.100 500 875 To Questions A 20,000 (2,500) $120,268 20,000 (1,250) $83.460 $ 1,100 computer equipment Accumulated depreciation-Computer equipment Total assets Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings Total liabilities and equity 875 0 500 1.500 3.100 875 98,000 21,393 $120.268 73.000 78360 $83.460 BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Computer services revenue Net sales $25.307 180g Questions ARA Income Statement For Three Months Ended March 31, 2020 $25.307 18,693 44.000 $14,052 400 1,250 3.250 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 555 2,475 1,305 600 320 960 25,167 $18,833 555 2,475 1,305 600 Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Repairs expense-Computer Total expenses Net income 320 960 25.167 $18.833 Required Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2020. Recall that owner Santana Rey contributed $25,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4.800 in cash dividends. Check Cash flows used by operations $(515)