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, 2018
Computer services revenue				$	24,507
Net sales					18,093
Total revenue					42,600
Cost of goods sold	$	14,552
Depreciation expenseOffice equipment		380
Depreciation expenseComputer equipment		1,240
Wages expense		2,550
Insurance expense		505
Rent expense		2,175
Computer supplies expense		1,215
Advertising expense		510
Mileage expense		280
Repairs expenseComputer		930
Total expenses					24,337
Net income				$	18,263

BUSINESS SOLUTIONS
Comparative Balance Sheets
December 31, 2017, and March 31, 2018
	Mar. 31, 2018				Dec. 31, 2017
Assets
Cash	$	84,657			$	60,492
Accounts receivable		23,967				5,368
Inventory		684				0
Computer supplies		2,105				480
Prepaid insurance		1,110				1,595
Prepaid rent		735				735
Total current assets		113,258				68,670
Office equipment		7,700				7,700
Accumulated depreciationOffice equipment		(760	)			(380	)
Computer equipment		19,500				19,500
Accumulated depreciationComputer equipment		(2,480	)			(1,240	)
Total assets	$	137,218			$	94,250
Liabilities and Equity
Accounts payable	$	0			$	1,120
Wages payable		895				570
Unearned computer service revenue		0				2,300
Total current liabilities		895				3,990
Equity
Common stock		114,000				82,000
Retained earnings		22,323				8,260
Total liabilities and equity	$	137,218			$	94,250

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 $32,000 to the business in exchange for additional stock in the first quarter of 2018 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, 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 Cash balance at December 31, 2017 Cash balance at March 31, 2018