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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 Net sales $24,607 17,893 42,500 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 $14,152 400 1,230 2,950 485 1,775 1,215 570 240 960 Total expenses 23,977 Net income $18,523