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 Net sales 18,593 Total revenue 43,100 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-Comp Total expenses Net income $14,852 350 1,240 3,150 535 1,975 1,215 530 230 950 BUSINESS SOLUTIONS Comparative Balance Sheets 25,027 $18,073 March 31, December 31, 2022 2021 Assets Cash Accounts receivable Inventory $ 77,247 24,067 $ 54,072 4,968 654 O Computer supplies Prepaid insurance. Prepaid rent Total current assets 2,015 520 1,100 775 105,858 1,595 775 61,930 Accounts payable Office equipment Accumulated depreciation-office equipment Computer equipment Accumulated depreciation-Computer equipment Total assets Liabilities and Equity Wages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings 7,000 7,000 (700) (350) 19,400 (2,480) 19,400 (1,240) $ 129,078 $ 0 945 $ 86,740 $1,150 530 0 945 1,900 3,580 106,000 22,133 Total liabilities and equity $ 129,078 75,000 8,160 $ 86,740