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, 2028 $24,407 17,993 42,400 Computer services revenue Net sales Total revenue Cost of goods sold Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense $14,452 348 1,21e 2,95e 545 Rent expense Computer supplies expense Advertising expense Mileage expense Repairs expense-Computer Total expenses 2,375 1,285 540 240 958 24,887 $17,513 Net income BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2828 Mar. 31, 2820 Dec. 31, 2819 Assets $ 76,807 23,867 644 Cash $57,222 5,168 Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent 2,035 1,e9e 745 49e 1,645 745 65,270 7,70e (340) 19,9ee (1,210) $91,320 Total current assets 105,188 7,70e (680) 19,900 (2,428) $129,688 office equipment Accumulated depreciation-Office equipment 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 $ 1,168 508 915 1,808 3,460 915 188,eee 20,773 $129,688 8e, eee 7,860 Retained earnings Total liabilities and equity $91,320 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 $28,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4,600 in cash dividends. (Amounts to be deducted should be Indicated with e minus sign.) 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 $28.000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4,600 in cash dividends. (Amounts to be deducted should be Indicated wlth 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