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 $30,000 to the business in exchange for additional stock in the first quarter of 2016 and has received $4,400 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.

2 15.00 points 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 $ 24,507 17,993 2 7 9 3 42,500 Total revenue Cost of goods sold Depreciation expenseOffice equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense $14,052 380 1,200 3,050 495 1,675 1,265 540 240 880 2 Repairs expense-Computer Total expenses 23,777 $ 18,723