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 financial data BUSINESS SOLUTIONS Income Statement 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 $24,407 18.493 42,9ee $14,352 350 1,17e 2,95e 475 1,875 1,295 59e 31e 948 24, 307 $18,593 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2017, and March 31, 2018 Mar. 31, Dec. 31, 2018 2017 Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation-Computer equipment Total assets $ 79,067 $56,102 4,768 23,767 694 2,1e5 1,188 815 500 1,655 815 63,840 187,548 30 7,88e 7,88e 700 20,000 (2,340) (350) 20,000 (1,17e) $132,308 $9,12e Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings Total liabilities and equity e 1,11e 55e 3,56e 79,8ee $132,38 $98,12e 955 109,90e 22,353598 7,568