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				$	24,407
Net sales					18,093
Total revenue					42,500
Cost of goods sold	$	14,352
Depreciation expenseOffice equipment		360
Depreciation expenseComputer equipment		1,240
Wages expense		2,950
Insurance expense		545
Rent expense		2,275
Computer supplies expense		1,215
Advertising expense		520
Mileage expense		320
Repairs expenseComputer		930
Total expenses					24,707
Net income				$	17,793

BUSINESS SOLUTIONS
Comparative Balance Sheets
December 31, 2019, and March 31, 2020
	Mar. 31, 2020						Dec. 31, 2019
Assets
Cash		$	73,047					$	52,002
Accounts receivable			24,267						5,468
Inventory			624						0
Computer supplies			2,105						500
Prepaid insurance			1,070						1,645
Prepaid rent			725						725
Total current assets			101,838						60,340
Office equipment			7,800						7,800
Accumulated depreciationOffice equipment			(720	)					(360	)
Computer equipment			19,300						19,300
Accumulated depreciationComputer equipment			(2,480	)					(1,240	)
Total assets		$	125,738					$	85,840
Liabilities and Equity
Accounts payable		$	0					$	1,140
Wages payable			885						540
Unearned computer service revenue			0						2,300
Total current liabilities			885						3,980
Equity
Common stock			104,000						74,000
Retained earnings			20,853						7,860
Total liabilities and equity		$	125,738					$	85,840

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 $30,000 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 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