Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. BUSINESS SOLUTIONS Incone Statement For Three Months Ended March 31, 2022 Computer services revenue $ 24,407 Net sales 17,893 Total revenue 42,300 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 $ 14,352 380 1,160 2,650 535 1,575 1,265 520 220 930 23,587 $18,713 BUSINESS SOLUTIONS Comparative Balance Sheets March 31, 2022 December 31, 2021 Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets Computer equipment office equipment Accumulated depreciation-Office equipment Accumulated depreciation-Computer equipment Total assets Liabilities and Equity Accounts payable $ 78,647 23,867 614 $ 57,832 4,868) 2,055 1,030 745 106,958 510 1,625 745 65,580 7,900 (760) 7,900 19,600 (2,320) $131,378 50 (380) 19,600 (1,160) $ 91,540 $1,140 Wages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings Total liabilities and equity Required: 905 540 0 2,000 905 3,680 108,000 80,000 22,473 $131,378 7,860 $ 91,540 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 $28,000 to the business in exchange for additional stock in the first quarter of 2022 and has received $4,100 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, 2022 Cash flows from operating activities 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 operating activities Statement of Cash Flows (indirecty 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