Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. $ 25, 307 18,693 14.000 BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Computer services revenue Net sales Total revenue Cost of goods sold $14,052 Depreciation expense-office equipment 400 Depreciation expense-Computer equipment 1.25e Wages expense 3,250 Insurance expense 555 Rent expense 2.475 Computer supplies expense 1. Jos Advertising expense 600 Mileage expense 320 Repairs expense-Computer Total expenses Net Income 25, 162 $18.83 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 Mar 31, 2020 68,057 8 5,668 580 665 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 Mar 312029 Assets Cash Accounts receivable Inventory Computer supplies Prepaid Insurance Prepaid rent Total current assets 5,568 office equipment 8,000 Accumulated depreciation-office equipment (800) Computer equipment 20,000 Accumulated depreciation-Computer equipment (2,500) Total assets 120.268 Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings Total liabilities and equit 8,000 (480) 20,000 (1,250) 83,460 Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2020. 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. (Amounts to be deducted should be indicated with a minus sign.) BUSINESS SOLUTIONS Statement of Cash Flows (Indirect) For Quarter Ended March 31, 2020 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities