Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business.

Required
Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2016. Recall that owner Santana Rey contributed $25,000 to the business in exchange for additional stock in the first quarter of 2016 and has received $4,800 in cash dividends.

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BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31,2016 $25,307 18,693 44,000 Cost of goods sold Insurance expense Computer supplies expense Total expenses 25,167 $18,833 Comparative Balance Sheets December 31, 2015, and March 31,2016 Mar. 31, 2016 Dec. 31,2015 Accounts receivable Total current assets $120,268 $83.460 Liabilities and Equity payable Wages payable Unearned computer service revenue Retained earnings Total liabilities and equity