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Serial business solutions Maria owner of business solutions makes a choice to make a statement of cash flows for her business using this info: make

Serial business solutions
Maria owner of business solutions makes a choice to make a statement of cash flows for her business using this info: image text in transcribed
make a statement of cash flows for business solutions using the indirect method for three months ended March 31, 2020. owner Maria contributed $27000 to the business in exchange for additional stuck in the first quarter 2020 and received $4,400 in cash dividends. (please use minus to show reductions).
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$ 24,407 18,493 42,9ee 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 $14,652 33e 1,230 2,350 515 2,275 1,225 570 250 910 24,307 $18,593 Dec. 31, 2019 $52,702 5,068 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 Mar. 31, 2020 Assets Cash $ 72,387 Accounts receivable 24,067 Inventory 654 Computer supplies 2,855 Prepaid insurance 1, e9e Prepaid rent 735 Total current assets 188,988 Office equipment 7,700 Accumulated depreciation-office equipment (660) Computer equipment 19, 200 Accumulated depreciation-Computer equipment (2,460) Total assets $124,768 Liabilities and Equity Accounts payable $ e Wages payable 915 Unearned computer service revenue e Total current liabilities 915 Equity Common stock 182.ee Retained earnings 21,853 Total liabilities and equity $124,768 510 1,565 735 60,580 7,7ee (330) 19, 200 (1,230) $85,920 $ 1,140 520 1,6ee 3,260 75,000 7,660 $85,920 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 $ 0 Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities 0 $ 0 Cash balance at December 31, 2019 Cash balance at March 31, 2020 $ 0

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