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, 2020
Computer services revenue				$	25,207
Net sales					18,493
Total revenue					43,700
Cost of goods sold	$	14,152
Depreciation expenseOffice equipment		330
Depreciation expenseComputer equipment		1,240
Wages expense		3,150
Insurance expense		495
Rent expense		1,775
Computer supplies expense		1,245
Advertising expense		500
Mileage expense		270
Repairs expenseComputer		920
Total expenses					24,077
Net income				$	19,623

BUSINESS SOLUTIONS
Comparative Balance Sheets
December 31, 2019, and March 31, 2020
	Mar. 31, 2020						Dec. 31, 2019
Assets
Cash		$	83,157					$	58,892
Accounts receivable			24,367						5,168
Inventory			634						0
Computer supplies			2,055						530
Prepaid insurance			1,020						1,635
Prepaid rent			795						795
Total current assets			112,028						67,020
Office equipment			7,900						7,900
Accumulated depreciationOffice equipment			(660	)					(330	)
Computer equipment			19,700						19,700
Accumulated depreciationComputer equipment			(2,480	)					(1,240	)
Total assets		$	136,488					$	93,050
Liabilities and Equity
Accounts payable		$	0					$	1,140
Wages payable			905						550
Unearned computer service revenue			0						2,100
Total current liabilities			905						3,790
Equity
Common stock			112,000						81,000
Retained earnings			23,583						8,260
Total liabilities and equity		$	136,488					$	93,050

Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2020. Owner Santana Rey contributed $31,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4,300 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, 2020 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash balance at December 31, 2019 Cash balance at March 31, 2020 $