Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. $ 24,507 18,193 42,700 BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2022 Computer services revenue Net sales Total revenue Cast of goods sold $ 14,652 Depreciation expense-Office equipment 370 Depreciation expense-Computer equipment 1,199 Wages expense 2,550 Insurance expense 515 Rent expense 1,675 Computer supplies expense 1,305 Advertising expense 560 Mileage expense 300 Repairs expense-Computer 870 Total expenses Net income 23,987 $ 18,713 BUSINESS SOLUTIONS Comparative Balance Sheets March 31, December 31, 2022 2021 Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets 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 Retained earnings Total liabilities and equity $ 76,637 23,767 684 2,065 1,090 725 104,968 7,900 (740) 19,200 (2,380) $ 128, 948 $ 57,422 5,168 0 500 1,595 725 65,410 7,900 (370) 19,200 (1,190) $ 90,950 $ 0 875 0 875 $ 1,190 600 1,600 3,390 106,000 22,073 $ 128,948 80,000 7,560 $ 90,950 Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2022. Owner Santana Rey contributed $26,000 to the business in exchange for additional stock in the first quarter of 2022 and has received $4,200 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, 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 Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash balance at December 31, 2021 Cash balance at March 31, 2022