Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. $25,307 18.693 14.000 BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 Computer services revenue het sales Total revenue Cost of goods sold $14,952 Depreciation expense-office equipment 400 Depreciation expense-Computer equipment 1,250 Wages expense 3,250 Insurance expenso 555 Kant expense 2,475 Computer supplies expense 1,305 Advertising expense see Mileage expense 329 pirs expense-Computer 95e Het income 25,167 $18,833 Dec. 31, 2019 $48,372 5,668 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 Mar. 31, 2020 Assets Cash $ 68,057 Accounts receivable 22,867 Inventory 704 Computer supplies 2,005 Prepaid Insurance 1, 110 Prepaid rent 825 Total current assets 95,568 Office equipment 8,000 Accumulated depreciation Office equipment (800) Computer equipment 20,000 Accumulated depreciation-Computer equipment (2,500) Total assets $120,268 Liabilities and Equity Accounts payable $ Wages payable 875 Unearned computer service revenue Total current liabilities 875 Equity Common stock 98,000 Retained earnings 21,393 Total liabilities and equity $120,268 580 1,665 825 57,119 8,000 (400) 20,000 (1,2502 $83,460 $ 1,100 500 1,500 3, 10e 73,000 7.360 $83,460 Requirea: 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 $25,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4,800 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 not 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