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 $18,493$

Total revenue $43,000$

Cost of goods sold $ $15,052$

Depreciation expense$$Office equipment $380$

Depreciation expense$$Computer equipment $1,180$

Wages expense $2,750$

Insurance expense $465$

Rent expense $1,975$

Computer supplies expense $1,265$

Advertising expense $530$

Mileage expense $300$

Repairs expense$$Computer $890$

Total expenses $24,787$

Net income $ $18,213$

BUSINESS SOLUTIONS

Comparative Balance Sheets

March $31,2022$ December $31,2021$

Assets

Cash $ $79,907$ $ $53,302$

Accounts receivable $24,2675,368$

Inventory $6640$

Computer supplies $2,095540$

Prepaid insurance $1,0201,645$

Prepaid rent $795795$

Total current assets $108,74861,650$

Office equipment $7,3007,300$

Accumulated depreciation$$Office equipment $(760)(380)$

Computer equipment $19,80019,800$

Accumulated depreciation$$Computer equipment $(2,360)(1,180)$

Total assets $ $132,728$ $ $87,190$

Liabilities and Equity

Accounts payable $ $0$ $ $1,170$

Wages payable $955560$

Unearned computer service revenue $01,900$

Total current liabilities $9553,630$

Equity

Common stock $110,00076,000$

Retained earnings $21,7737,560$

Total liabilities and equity $ $132,728$ $ $87,190$

Required:

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 $$34,000$ to the business in exchange for additional stock in the first quarter of $2022$ and has received $$4,000$ in cash dividends.