Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data $ 24,907 17,293 42,700 BUSINESS SOLUTIONS shcome Statement Tor Three Months Ended March 31, 2022 Computer services revenue Net sales Total revenue Cost of goods sold $ 14,352 Depreciation expense-office equipment 310 Depreciation expense-Computer equipment 1,230 Wages expense 2,850 Insurance expense 485 Rent expense 2,175 Computer supplies expense 1,225 Advertising expense 560 Mileage expense 300 Repairs expense-Computer 940 Total expenses Net Income 24,427 $ 18,273 BUSINESS SOLUTIONS Comparative Balance Sheets March 31, 2022 December 31, 2021 Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets Office equipment Accumulated depreciation-office eq pment Computer equipment Accumulated depreciation-Computer equipment Total assets Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings Total liabilities and equity $ 77,237 23,767 674 2,035 1,080 755 105,548 7,200 (620) 19,400 (2,460) $ 129,068 $ 57,042 4,868 0 510 1,625 755 64,800 7,200 (310) 19,400 (1,230) $ 89,860 $ 0 935 0 935 $ 1,190 510 1,600 3,300 107,000 21,133 $ 129,068 79,000 7,560 $ 89,860 BUSINESS SOLUTIONS Statement of Cash Flows (Indirect) For Quarter Ended March 31, 2022 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current assets and current liabilities Decrease in accounts payable Changes in current assets and current liabilities Decrease in accounts payable $ 0 Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities 0 $ 0 Cash balance at December 31, 2021 Cash balance at March 31, 2022 $ 0