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 Statenent For Three Months Ended March 31, 2018 Computer services revenue Net sales Total revenue 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 $25,207 18,693 43,900 $14,552 400 1,240 3,050 475 1,675 1,225 580 230 24,347 $19,553 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2017, and March 31, 2018 Mar. 31, . Dec. 31 2017 Assets Cash Accounts receivable Inventory Computer supplies 72,127 $51,442 5,268 24,467 624 2,095 1,020 745 101,078 7,600 500 1,635 745 59,590 7,600 Prepaid rent Total current assets office equipment Accumulated deprec Computer equipment Accumulated depreciation-Computer equipment 2,480) (1.240 Total assets iation-office equipment (800) (400) 19,500 19,500 $124,898 $85,050 Liabilities and Equity Accounts payable Nages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings Total liabilities and equity 0 $1,140 550 885 R853,290 101,000 74,000 $124, 898 $85,050 23,013 7100 7,760 Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2018. Owner Santana Rey contributed $27,000 to the business in exchange for additional stock in the first quarter of 2018 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, 2018 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 0 Cash balance at December 31, 2017 Cash balance at March 31. 2018 0