Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2018 $25,007 18,393 43,400 Computer services revenue Net sales Total revenue Cost of goods sold Depreciation expense Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Repairs expense-Computer Total expenses Net income $14,052 340 1,160 2,250 545 2,375 1,255 -Office equipment 310 890 23,727 $19,673 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2017, and March 31, 2018 Dec. 31 2017 2018 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 82,287$57,482 5,468 24,167 694 2,015 1,050 815 540 1,575 65,880 7,300 111,02865800 7,300 (680) 19,800 2,320 (340) 19,800 1,160 $135,128 $91,480 Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings Total liabilities and equity 0 1,170 550 2,100 3,820 895 895 80,000 23,2337:600 $135,128 $91,480 111,000 Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2018. Owner Santana Rey contributed $31,000 to the business in exchange for additional stock in the first quarter of 2018 and has received $4,100 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.) BUSINESS SOLUTIONS Statement of Cash Flows (Indirect) For Quarter Ended March 31, 2018 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash balance at December 31, 2017 Cash balance at March 31, 2018