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BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2613 Computer services revenue $24,56? Net sales 17,693 Total revenue 42,466 Cost of goods sold $14,252 Depreciation expenseoffice equipment 376 Depreciation expenseComputer equipment 1,236 wages expense 3,256 Insurance expense 465 Rent expense 2,3?5 Computer supplies expense 1,265 Advertising expense 516 Mileage expense 236 Repairs expenseComputer 946 Total expenses 24,92? Net income $1?,4?3 BUSINESS SOLUTIONS Comparative Balance sheets December 31, 2317, and March 31, 2018 Mar. 31, Dec. 31, 2015 2017 Assets Cash 5 53,927 $53,372 Accounts receivable 24,457 4,858 Inventory 694 0 computer supplies 2,065 500 Prepaid insurance 1,030 1, 545 Prepaid rent 735 735 Total current assets 537,913 61,520 Office equipment 7,500 7, 500 Accumulated depreciationoffice equipment (740) (370) Computer equipment 19,403 is, we Accumulated depreciationComputer equipment (2,450) (1,230) Total assets $121,518 $86, 920 Liabilities and Equity Accounts payable $ 0 $ 1,190 Wages payable 385 570 Unearned computer service revenue 0 2,300 Total current liabilities 385 4,350 Equity Common stock 100,000 75, 000 Retained earnings 20,733 7, 850 Total liabilities and equity $121,613 $86,920 Required: Prepare a statement of cash ows for Business Solutions using the indirect merhodfor the three months ended March 31, 2018, Owner Santana Rey contributed $25,000 to the business in exchange for additional stock in the first quarter of 2018 and has received $4,600 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.) For Quarter Ended March 31, 2018 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities $ 0 Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities 0 $ 0 Cash balance at December 31, 2017 Cash balance at March 31, 2018 $ 0