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 (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.) BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2016 25,107 Computer services revenue Net sales 17,993 43,100 Total revenue Cost of goods sold 14,152 390 Depreciation expense Office equipment 1,170 Depreciation expense-Computer equipment 2,950 Wages expense Insurance expense 525 1,675 Rent expense Computer supplies expense 1,235 590 Advertising expense 240 Mileage expense 360 Repairs expense-Computer Total expenses 23,787 19,313 Net income