Adriana Lopez, owner of Success Systems, 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.)

Required
Prepare a statement of cash flows for Success Systems using the indirect method for the three months ended March 31, 2010. Recall that the owner Adriana Lopez contributed $25,000 to the business in exchange for additional stock in the first quarter of 2010 and has received $4,800 in cashdividends.

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SUCCESS SYSTEMS Comparative Balance Sheets December 31, 2009, and March 31, 2010 2010 2009 Assets Cash.... 77,845 $58.160 5.668 Computer supplies . . . 1、665 825 8,000 1,110 8,000 Office equipment . Accumulated depreclation-Office (400) 20,000 Accumulated depreclation Total assets_... $129,909 $93.248 Liabilities and Equlty Accounts payable... Wages payable.. Unearned computer service revenue 1,100 875 1.500 83.000 Retalned earnings21.034 7148 Total llabilltles and equlty$129.909 $93,248 SUCCESS SYSTEMS Income Statement For Three Months Ended March 31,2010 Computer services revenue. Net sales Total revenue +. Cost of goods sold $14,052 $25,160 8.693 43,853 Office equlpment Computer equipment250 Wages expense .3,250 Insurance expense Rent expense . .. 2.475 Computer supples expense Advertising expense a... Mileage expense ._ _... . Repairs expense- Computer 305 320 25,167 $18,686 Net Income