Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business.

Serial Problem Business Solutions L.O. P1, P2, P3 Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2012 24,407 Computer services revenue 18,493 Net sales 42,900 Total revenue $14,952 320 Cost of goods sold Depreciation expense-Office equipment Depreciation expense Computer 1,190 equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Repairs expense-Computer 2,250 525 1,875 1,285 540 250 900 24,087 Total expenses $18,813 Net income BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2011, and March 31, 2012 2011 2012 Assets Cash Accounts receivable Merchandise inventory Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation-Computer $ 78,857 $57,352 4,968 0 570 1,585 805 7,900 (320) 19,700 24,167 644 2,035 1,030 805 7,900 (640) 19,700 (1,190) (2,380) equipment $ 132,118 $91,370 Total assets Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue Common stock Retained earnings 0 $1,110 600 2,500 79,000 8160 945 0 108,000 23,173 $ 132,118 $91,370 Total liabilities and equity Required Prepare a statement of cash flows from the financial data of Business Solutions provided above using the indirect method for the three months ended March 31, 2012. Recall that the owner Santana Rey contributed $29,000 to the business in exchange for additional stock in the first quarter of 2012 and has received $3,800 in cash dividends. (Amounts to be deducted should be indicated with a minus sign. Leave no cells blank be certain to enter "O" wherever required. Omit the "$" sign in your response.) BUSINESS SOLUTIONS Statement of Cash Flows (Indirect) For Quarter Ended March 31, 2012 Cash flows from operating activities (Click to select) Adjustments to reconcile net income to net cash provided by operating activities Click to select) (Click to select) Click to select) (Click to select) Click to select) (Click to select) Click to select) (Click to select) (Click to select) Net cash [ (Click to select) #) operating activities Cash flows from investing activities Net cash flow from investing activities Cash flows from financing activities (Click to select) (Click to select) Net cash [ (Click to select) financing activities (Click to select) Cash balance at December 31, 2011 Cash balance at March 31, 2012