Santana Rey owner of business solutions decides to prepare a statement of cash flows for her business using the following financial data.

17 Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. 3 22:08 $25,107 17,893 43.000 BUSTNESS SOTUTTON Income Statement For Three Months Ended March 31, 20 Computer services revenue Net sales Total revenue Cost of goods sold $14,652 Depreciation expense office equipment Depreciation expense-Computer equipment 1,240 Wages expense 2,750 Insurance expense Rent expense 1,975 Computer supplies expense 1,295 Advertising expense Mileage expense 300 Repairs expense-Computer Total expenses Net income 24,547 $18,453 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2017, and March 31, 2018 Mar. 31, 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 $ 70,457 $51, 752 24,567 4,768 6940 2,075 540 1,100 1,605 805 805 99,698 59,470 7,600 7,600 (760) (380) 19, 100 19,100 (2,480) (1,240) $123,158 $84,550 Test 3 - Summer 2019 17 RUSTR88 SOLUTIONS Comparative Balance Sheets December 31, 2017, and Harch 31, 2018 Mar. 31. Dec. 31. Sa $ 70,457 $51,752 24.5674 .768 1.100 1.605 Prepaid insurance Total current sets (1.240) (2.480) $123,158 Mecumulated depreciation office equipment Computer equipment Meculated depreciation Computer equipment Total assets Liabilities and Equity Accounts payable Wages payable corputar e Teven Total current liabilities 945 3.390 100,000 22.213 $12), 158 8.160 386,550 Total liabilities and equity 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 $27000 to the business in exchange for additional stock in the first quarter of 2018 and has received $4,400 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 Test 3 - Summer 2019 Help Save & Exit Submit 17 2010 For Quarter Ended March Cash flows from operating activities Adjustments to reconcile net income lo nel cash provided by operating activities 3 Cash flows from investing activities Nel cash used in investing activities Cash flows from financing activities Cash balance at December 31, 2017 Cash balance at March 31, 2018