Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. $ 24, 307 17,793 42,100 BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2020 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 $14,852 330 1, 2ee 3,150 475 1,675 1, 225 600 25e 950 24,707 $ 17,393 Dec. 31, 2019 $56,392 5,568 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 Mar. 31, 2028 Assets Cash $ 74,457 Accounts receivable 23,967 Inventory 674 Computer supplies 2,055 Prepaid insurance 1,100 Prepaid rent 795 Total current assets 103,648 Office equipment 7, 9ee Accumulated depreciation-office equipment (660) Computer equipment 19,700 Accumulated depreciation-Computer equipment (2,400) Total assets $127,588 Liabilities and Equity Accounts payable Wages payable 935 Unearned computer service revenue Total current liabilities 935 Equity Common stock 106, eee Retained earnings 20,653 Total liabilities and equity $ 127,588 500 1,655 795 64,910 7,900 (330) 19,700 (1,200) $90,989 $ $ 1,140 580 1, 80e 3,520 80,00 7,460 $99,980 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 $26,000 to the business in exchange for additional stock in the first quarter of 2020 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, 2020 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities s 0 Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities s 0 Cash balance at December 31, 2019 Cash balance at March 31, 2020 S 0