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 $ 24,507 17,993 Net sales Total revenue Cost of goods sold Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Repairs expense-Computer Total expenses Net income Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets $ 14,452 370 1,200 2,850 455 2,175 1,305 510 290 940 BUSINESS SOLUTIONS Comparative Balance Sheets Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation-Computer equipment Total assets Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue 42,500 24,547 $ 17,953 March 31, December 31, 2022 2021 $ 79,717 23,867 $ 60,972 5,468 684 2,105 1,090 570 1,635 815 815 108,278 69,460 7,400 7,400 (740) (370) 19,700 (2,400) $ 132,238 $ 0 925 0 19,700 (1,200) $ 94,990 $ 1,120 510 2,500 wages expense 2,850 Insurance expense 455 Rent expense 2,175 Computer supplies expense 1,305 Advertising expense 510 Mileage expense 290 Repairs expense-Computer 940 Total expenses Net income Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent BUSINESS SOLUTIONS Comparative Balance Sheets Total current assets. Office equipment Accumulated depreciation-office equipment Computer equipment Accumulated depreciation-Computer equipment Total assets Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings Total liabilities and equity Required: 24,547 $ 17,953 March 31, December 31, 2022 2021 $ 79,717 23,867 $ 60,972 5,468 684 0 2,105 570 1,090 1,635 815 815 108,278 69,460 7,400 (740) 19,700 7,400 (370) 19,700 (1,200) $ 94,990 (2,400) $ 132,238 $ 0 $ 1,120 925 510 0 2,500 925 4,130 110,000 21,313 $ 132,238 83,000 7,860 $ 94,990 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 $27,000 to the business in exchange for additional stock in the first quarter of 2022 and has received $4,500 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.) quire 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 $27,000 to the business in exchange for additional stock in the first quarter of 2022 and has received $4,500 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities 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 Cash balance at December 31, 2021 Cash balance at March 31, 2022 $ 0 0 $ 0 $ 0