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 $3,900 in cash dividends.

$ 24,907 17,893 42,800 BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2019 Computer services revenue Net sales Total revenue Cost of goods sold $14,952 Depreciation expense-office equip. 390 Depreciation expense-Computer equip. 1,250 Wages expense 2,450 Insurance expense 515 Rent expense 1,975 Computer supplies expense 1,215 Advertising expense 550 Mileage expense 230 Repairs expense-Computer 890 Total expenses Net income 24,417 $18, 383 Dec. 31, 2018 $52,652 4,968 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2018, and March 31, 2019 Mar. 31, 2019 Assets Cash $ 78,157 Accounts receivable 24,367 Inventory 614 Computer supplies 2,085 Prepaid insurance 1,080 Prepaid rent 775 Total current assets 107,078 Office equipment 7,000 Accumulated depreciation office equip. (780) Computer equipment 19,100 Accumulated depreciation-Computer equip. (2,500). Total assets $129,898 Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue Total current liabilities Equity Common stock 107,000 Retained earnings 21,943 Total liabilities and equity $129,898 560 1,595 775 60,550 7,000 (390) 19,100 (1,250) $ 85,010 $ 1,190 560 1,800 3,550 74,000 7,460 $85,010 BUSINESS SOLUTIONS Statement of Cash Flows (Indirect) For Quarter Ended March 31, 2019 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current assets and current liabilities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash balance at December 31, 2018 Cash balance at March 31, 2019