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I'm stuck on this problem and can't finish. I'm not even sure if the cells I filled out are correct. Santana Rey, owner of Business

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I'm stuck on this problem and can't finish. I'm not even sure if the cells I filled out are correct.

Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. $24,707 17,793 42,500 BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2019 Computer services revenue Net sales Total revenue Cost of goods sold $15,052 Depreciation expense-Office equip. 380 Depreciation expense-Computer equip. 1,170 Wages expense 3,050 Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Repairs expense-Computer Total expenses Net income 475 Oon un un ma 25,357 $17,143 Dec. 31, 2018 $51,702 4,868 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2018, and March 31, 2019 Mar. 31, 2019 Assets Cash $ 76,207 Accounts receivable 23, 867 Inventory Computer supplies 2,035 Prepaid insurance 1,100 Prepaid rent 775 Total current assets 104,668 Office equipment 7,100 Accumulated depreciation-office equip. (760) Computer equipment 20,000 Accumulated depreciation-Computer equip. (2,340) 560 1,655 775 59,560 7,100 (380) 20,000 (1,170) $ 128,668 $85, 110 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 0 965 0 965 $ 1,150 600 1,800 3,550 107,000 20,703 $128,668 74,000 7,560 $85, 110 Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2019. Owner Santana Rey contributed $33,000 to the business in exchange for additional stock in the first quarter of 2019 and has received $4,000 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, 2019 Cash flows from operating activities Net income | $ 17,183 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Depreciation expense-Office equipment 760 Depreciation expense-Computer equipment 380 (18,323) Changes in current assets and current liabilities Increase in accounts receivable Increase in inventory Increase in computer supplies (684) (2,035) Decrease in prepaid insurance 475 (1,150) Decrease in accounts payable Increase in wages payable Decrease in unearned computer service revenue $ (3,394) Net cash provided by investing activities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash received from stock issuance Cash paid for dividends 33,000 (4,000) 29,000 25,606 $ I Net cash provided by financing activities Net increase in cash Cash balance at December 31, 2018 Cash balance at March 31, 2019 $ 25,606

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