P2 P3 SP 12 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 Alexander Image/Shutterstock 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. $ 68,057 22,867 704 2,005 1.110 825 95.568 8,000 580 1,665 825 57,110 8,000 BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 (800) 20.000 (400) 20,000 $25,307 18.693 44.000 (2,500) $120.268 (1,250) $83,460 $14,052 400 Liabilities and Equity Accounts payable Wages payable........... Unearned computer service revenue Total current liabilities 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 ......... $ 1,100 500 1,500 3,100 875 1,250 3,250 555 2,475 1,305 600 320 Equity Common stock. Retained earnings. ... Total liabilities and equity... 960 98,000 21,393 $120.268 73.000 7,360 $83,460 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)