Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows data. $ 25,307 18,693 44,000 BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2022 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 2,475 Computer supplies expense 1,305 Advertising expense 600 Mileage expense 320 Repairs expense-Computer 960 Total expenses Net income 25,167 $ 18,833 BUSINESS SOLUTIONS Comparative Balance Sheets March 31, 2022 December 31, 2021 $ 48, 372 5,668 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 Liabilities and Equity Accounts payable Wages payable Unearned computer service revenue Total current liabilities Equity Common stock Retained earnings Total liabilities and equity $ 68,057 22,867 704 2,005 1,110 825 95,568 8,000 (800) 20,000 (2,500) $ 120, 268 580 1,665 825 57, 110 8,000 (400) 20,000 (1,250) $ 83,460 $ @ 875 $ 1,100 500 1,500 3,100 875 98,000 21,393 $ 120,268 73,000 7,360 $ 83,460 Required: Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2022. Owner Santana Rey contributed $25,000 to the business in exchange for additional stock in the first quarter of 2022 and has received $4,800 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.) BUSINESS SOLUTIONS Statement of Cash Flows (Indirect) For Quarter Ended March 31, 2022 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current assets and current liabilities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash balance at December 31, 2021 Cash balance at March 31, 2022