Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2022 Computer services revenue $25,107 Net sales 17,793 Total revenue 42,900 Cost of goods sold $14,852 Depreciation expense-Office equipment 360 Advertising expense Mileage expense Repairs expense-Computer Total expenses Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense. 1,210 2,850 545 1,975 1,215 560 270 930 Net income 24,767 $18,133 Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets office equipment BUSINESS SOLUTIONS Comparative Balance Sheets March 31, 2022 December 31, 2021 $ 77,797 24,467 624 $ 54,712 4,768 e 2,045 560 1,090 1,595 735 735 106,758 7,300 62,378 7,300 Drau focal Total expenses Net income 24,767 $ 18,133 BUSINESS SOLUTIONS Comparative Balance Sheets March 31, 2022 December 31, 2021 Assets Cash Accounts receivable Inventory $ 77,797 $ 54,712 24,467 4,768 624 e Computer supplies Prepaid insurance Prepaid rent 2,045 560 1,090 1,595 735 735 Total current assets Office equipment Accumulated depreciation-office equipment Conputer equipment Accumulated depreciation-Computer equipment Total assets Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue Total current liabilities. Equity Common stock 106,758 62,370 7,300 7,300 (720) (360) 19,100 (2,420) 19,100 (1,210) $ 130,018 $ 87,200 $0 $1,130 925 510 0 2,300 925 3,940 Retained earnings Total liabilities and equity Required: 107,000 22,093 75,000 8,260 $ 130,018 $ 87,200 Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2022. Owner Santana Rey contributed $32,000 to the business in exchange for additional stock in the first quarter of 2022 and has received $4,300 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities Net income BUSINESS SOLUTIONS Statement of Cash Flows (Indirect) For Quarter Ended March 31, 2022 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current assets and current liabilities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Changes in current assets and current liabilities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash balance at December 31, 2021 Cash balance at March 31, 2022