Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. $25,107 18,093 43,200 BUSINESS SOLUTIONS Income Statement For Three Monthe Ended March 31, 2020 Computer services revenue Not: sales Total revenue Cost of goods sold $14,752 Depreciation expense-Office equipment 390 Depreciation expenso-Computer equipment 1,200 Wagos expense 2,350 Insurance expense 535 Rent expense 1,675 Computer supplies expense 1,205 Advertising expense 600 Mileage expense 300 Repairs exponse-Computer Total expenses Net incomo 880 23, 862 $19,333 Dec 31, 2019 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 Mr. 31, 2020 Assets Canh $ 79,787 Accounts receivable 24,067 Inventory 664 Computer supplies 2,015 Drepaid insurance 1,100 Prepaid rent 785 Total current assets 108,418 office equipment 7.900 Accumulated depreciation Office equipment (740) Computer equipment 19,900 Accumulated depreciation Computer equipment (2,400) Total ansato $133,078 Liabilities and Equity Accounts payable 0 Magos payable 885 Unearned computer service revenue 0 Total current liabilities 385 Equity Common stook 109.000 Retained earnings 23, 193 Total 11 abilities and equity $133,070 $53,512 5,068 0 530 1,665 785 61,560 7.900 (370) 19,900 (2.209) $82,790 $ 1,120 510 1,900 3.530 76,000 3.260 $07,790 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 $33,000 to the business in exchange for additional stock in the first quarter of 2020 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, 2020 Cash flows from operating activities Net income 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 0 $ $ Cash balance at December 31, 2019 Cash balance at March 31, 2020 $ A