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 $ 24,707 Net sales 17,793 Total revenue 42,500 Cost of goods sold $ 14,952 Depreciation expenseOffice equipment 360 Depreciation expenseComputer equipment 1,180 Wages expense 2,950 Insurance expense 475 Rent expense 1,875 Computer supplies expense 1,275 Advertising expense 560 Mileage expense 290 Repairs expenseComputer 900 Total expenses 24,817 Net income $ 17,683

BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 Mar. 31, 2020 Dec. 31, 2019 Assets Cash $ 73,957 $ 55,702 Accounts receivable 24,167 4,968 Inventory 614 0 Computer supplies 2,085 530 Prepaid insurance 1,060 1,595 Prepaid rent 775 775 Total current assets 102,658 63,570 Office equipment 7,100 7,100 Accumulated depreciationOffice equipment (720 ) (360 ) Computer equipment 19,600 19,600 Accumulated depreciationComputer equipment (2,360 ) (1,180 ) Total assets $ 126,278 $ 88,730 Liabilities and Equity Accounts payable $ 0 $ 1,190 Wages payable 935 580 Unearned computer service revenue 0 2,100 Total current liabilities 935 3,870 Equity Common stock 104,000 77,000 Retained earnings 21,343 7,860 Total liabilities and equity $ 126,278 $ 88,730

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 $27,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4,200 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.)