Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business. (Although the serial problem allowed for various ownership changes in earlier chapters, we will prepare the statement of cash flows using the following financial data.)

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BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2016 Computer services revenue Net sales Total revenue 14,552 Cost of goods sold 380 Depreciation expense Office equipment Depreciation expense-Computer equipment 1,160 2,350 Wages expense 465 Insurance expense 2,475 Rent expense 1,215 Computer supplies expense 570 Advertising expense 310 Mileage expense 860 Repairs expense-Computer Total expenses Net income 24,407 18,093 42,500 24,337 18,163