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 Net sales $24.887 18,293 43.100 $14,752 BRE 1.17e 3. esa Cost of goods sold Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Repairs expense-Computer Total expenses Net Income 1.825 20 657 $18,443 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 312020 Mar. 31, 2020 Dec. 11. 2019 $ 80,337 24.02 556,612 5,368 Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent 2.015 1.585 A cent lated depreciation office equipment Computer ent e depreciation Computer e nt 54. 2.300 108, 7. (260) 19,7 140) $133,38 19,20 (1.17) 398,70 $ 1,150 Equity 110. Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2020 Owner Santa Rey contributed $31000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4300 in cash didend Amounts to be deducted should be indicated with a minus slgn.) 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 $31,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4,300 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