Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data 525,107 18,00 43,200 BUSINESS SOLUTIONS Incon Statement For Three months Ended March 31, 2020 Corouter Services revenue Net sales Totalrecht Cost of us cold Depreciation expense-Office equipment Depreciation exe-Computer et was excense Insurance pense Rent ense Computer sun expense Advertising Expense Hege expense Repairs expense-Computer Total expenses furt Income 514.15 360 1.190 2.450 525 2.125 1,275 510 300 954 2.3.37 $19,313 Dec 31, 2019 558,42 5,168 BUSINESS SOLUTIONS Comarative Balance Sheets December 11, 2013, March 31, 2020 Mor. 31, 2020 Assets Cash 56,607 Accounts receivable 25,667 Twentory Computer supplies 2.000 Prepaid insurance 1,070 Prepaid rent Total current assets 114,820 Office equipment 7,500 Accumulated depreciation orice equiment (720) Computer equipment 19,700 Accumulated depreciation-Comter equipment (2.380 Total arts $130,928 Liabilities and Equity Accounts payable $ We payable 555 Learned computer service revenue . Total current lollities 955 Equity Comon stock 115,000 Retoised ning 22.971 totalities and equity $130,928 500 1.595 745 36,50 7.500 (360) 19,700 12.10 $92,600 $ 1,170 570 2,200 3,900 81,000 2.600 592,600 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 534,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4.000 in cash dividends. (Amounts to be deducted should be indicated with a minus sign) Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data 525,107 18,00 43,200 BUSINESS SOLUTIONS Incon Statement For Three months Ended March 31, 2020 Corouter Services revenue Net sales Totalrecht Cost of us cold Depreciation expense-Office equipment Depreciation exe-Computer et was excense Insurance pense Rent ense Computer sun expense Advertising Expense Hege expense Repairs expense-Computer Total expenses furt Income 514.15 360 1.190 2.450 525 2.125 1,275 510 300 954 2.3.37 $19,313 Dec 31, 2019 558,42 5,168 BUSINESS SOLUTIONS Comarative Balance Sheets December 11, 2013, March 31, 2020 Mor. 31, 2020 Assets Cash 56,607 Accounts receivable 25,667 Twentory Computer supplies 2.000 Prepaid insurance 1,070 Prepaid rent Total current assets 114,820 Office equipment 7,500 Accumulated depreciation orice equiment (720) Computer equipment 19,700 Accumulated depreciation-Comter equipment (2.380 Total arts $130,928 Liabilities and Equity Accounts payable $ We payable 555 Learned computer service revenue . Total current lollities 955 Equity Comon stock 115,000 Retoised ning 22.971 totalities and equity $130,928 500 1.595 745 36,50 7.500 (360) 19,700 12.10 $92,600 $ 1,170 570 2,200 3,900 81,000 2.600 592,600 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 534,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4.000 in cash dividends. (Amounts to be deducted should be indicated with a minus sign)
