following financial data. $ 24,407 18,193 42,600 BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2022 Computer services revenue Net sales Total revenue Cost of goods sold $ 14,452 Depreciation expense-office equipment 320 Depreciation expense-Computer equipment 1,220 Wages expense 2,950 Insurance expense 555 Rent expense 1,675 Computer supplies expense 1,295 Advertising expense 510 Mileage expense 240 Repairs expense-Computer 930 Total expenses Net income 24, 147 $ 18,453 BUSINESS SOLUTIONS Comparative Balance Sheets March 31, 2022 December 31, 2021 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 Wages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings Total liabilities and equity $ 81,477 23,767 664 2,035 1,060 775 109,778 8,000 (640) 19,300 (2,440) $ 133,998 $ 57,152 4,868 0 540 1,665 775 65,000 8,000 (320) 19,300 (1,220) $ 90,760 $ 0 885 0 885 $ 1,170 530 2,100 3,800 111,000 22,113 $ 133,998 79,000 7,960 $ 90,760 Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2022. Owner Santana Rey contributed $32,000 to the business in exchange for additional stock in the first quarter of 2022 and has received $4,300 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.) Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2022. Owner Santana Rey contributed $32,000 to the business in exchange for additional stock in the first quarter of 2022 and has received $4,300 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.) BUSINESS SOLUTIONS Statement of Cash Flows (Indirect) For Quarter Ended March 31, 2022 Cash flows from operating activities 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 Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash balance at December 31, 2021 Cash balance at March 31, 2022