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 $ $25,107$

Net sales $17,793$

Total revenue $42,900$

Cost of goods sold $ $14,852$

Depreciation expense$$Office equipment $390$

Depreciation expense$$Computer equipment $1,150$

Wages expense $3,050$

Insurance expense $525$

Rent expense $2,075$

Computer supplies expense $1,275$

Advertising expense $570$

Mileage expense $290$

Repairs expense$$Computer $920$

Total expenses $25,097$

Net income $ $17,803$

BUSINESS SOLUTIONS

Comparative Balance Sheets

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

Assets

Cash $ $78,837$ $ $56,422$

Accounts receivable $24,0675,568$

Inventory $6140$

Computer supplies $2,075510$

Prepaid insurance $1,0301,615$

Prepaid rent $805805$

Total current assets $107,42864,920$

Office equipment $7,7007,700$

Accumulated depreciation$$Office equipment $(780)(390)$

Computer equipment $19,00019,000$

Accumulated depreciation$$Computer equipment $(2,300)(1,150)$

Total assets $ $131,048$ $ $90,080$

Liabilities and Equity

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

Wages payable $885550$

Unearned computer service revenue $02,000$

Total current liabilities $8853,720$

Equity

Common stock $109,00079,000$

Retained earnings $21,1637,360$

Total liabilities and equity $ $131,048$ $ $90,080$

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 $$30,000$ to the business in exchange for additional stock in the first quarter of $2022$ and has received $$4,000$ in cash dividends.