Serial Problem Business Solutions (Indirect) LO P1, P2, P3 Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following finar data k $25,387 18,693 44,000 BUSINESS SOLUTIONS Tncome Statement For Three Months Ended March 31, 2018 Computer services revenue Net sales Total revenue Cost of goods sold $14,052 Depreciation expense-office equipment 400 Depreciation expense-Computer equipment 1,250 Wages expense 3,250 Insurance expense 555 Rent expense 2,425 Computer supplies expense 1,305 Advertising expense 600 Mileage expense 320 Repairs expense-computer 960 Total expenses Net Income 25,162 $18,833 Dec. 31, 2017 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2017, and March 31, 2018 Mar. 31, 2018 Assets Cash 5 60,657 Accounts receivable 22,367 Inventory 704 Computer supplies 2,005 Prepaid Insurance 1,110 Prepaid rent 325 Total current assets 95.566 Office equipment 8,000 Accumulated depreciation office equipment (300) Computer equipment 20,000 Accumulated depreciation-Computer equipment 2,500) Total assets $120.268 Liabilities and Equity Accounts payable $ 825 Wages payable Unearned computer service revenue Total current liabilities 175 Equity Common stock 90,000 Retained earnings Total liabilities and equity $120,208 540,372 5,668 e 580 1.665 125 57,110 8,00 (400) 20,00 (1/250) 5 1,10 500 1,500 3.10 73,000 7.100 $33,460 Required: mantrash flows for Business Solutions using the Indirect method for the three months ended March 31 2018 Owner in the Quarter of 2018 and has received $4,800