Need Statements of Cash Flow (indirect)

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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
Income Statement
For Three Months Ended March 31, 2016
Computer services revenue				$	25,307
Net sales					17,793
Total revenue					43,100
Cost of goods sold	$	14,052
Depreciation expenseOffice equipment		310
Depreciation expenseComputer equipment		1,180
Wages expense		3,050
Insurance expense		545
Rent expense		2,075
Computer supplies expense		1,255
Advertising expense		550
Mileage expense		240
Repairs expenseComputer		900
Total expenses					24,157
Net income				$	18,943

BUSINESS SOLUTIONS
Comparative Balance Sheets
December 31, 2015, and March 31, 2016
	Mar. 31, 2016				Dec. 31, 2015
Assets
Cash	$	72,137			$	51,342
Accounts receivable		23,667				5,668
Inventory		644				0
Computer supplies		2,065				570
Prepaid insurance		1,020				1,595
Prepaid rent		745				745
Total current assets		100,278				59,920
Office equipment		7,800				7,800
Accumulated depreciationOffice equipment		(620	)			(310	)
Computer equipment		19,300				19,300
Accumulated depreciationComputer equipment		(2,360	)			(1,180	)
Total assets	$	124,398			$	85,530
Liabilities and Equity
Accounts payable	$	0			$	1,110
Wages payable		895				560
Unearned computer service revenue		0				1,800
Total current liabilities		895				3,470
Equity
Common stock		101,000				74,000
Retained earnings		22,503				8,060
Total liabilities and equity	$	124,398			$	85,530

Required:

Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2016. Recall that the owner Santana Rey contributed $27,000 to the business in exchange for additional stock in the first quarter of 2016 and has received $4,500 in cash dividends.(Amounts to be deducted should be indicated with a minus sign.)