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

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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 For Three Months Ended March 31, 2020 Computer services revenue Net sales Total revenue Cost of goods sold Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Computer supplies expense Rent expense Advertising expense Mileage expense Repairs expense-Computer Total expenses Net income Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets $24,607 17,893 42,500 $14,452 300 1,160 2,850 545 2,275 1,265 510 280 890 24,527 $17,973 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 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 Mar. 31, 2020 Dec. 31, 2019 $ 78,187 24,267 654 $52,522 4,968 0 2,095 550 1,090 1,605 795 107,088 795 60,440 7,100 (600) 7,100 (300) 19,000 19,000 (2,320) (1,160) $130,268 $85,080 $ 1,140 $ 0 935 0 935 580 1,500 3,220 108,000 21,333 74,000 7,860 $130,268 $85,080 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 For Three Months Ended March 31, 2020 Computer services revenue Net sales Total revenue Cost of goods sold Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Computer supplies expense Rent expense Advertising expense Mileage expense Repairs expense-Computer Total expenses Net income Assets Cash Accounts receivable Inventory Computer supplies Prepaid insurance Prepaid rent Total current assets $24,607 17,893 42,500 $14,452 300 1,160 2,850 545 2,275 1,265 510 280 890 24,527 $17,973 BUSINESS SOLUTIONS Comparative Balance Sheets December 31, 2019, and March 31, 2020 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 Mar. 31, 2020 Dec. 31, 2019 $ 78,187 24,267 654 $52,522 4,968 0 2,095 550 1,090 1,605 795 107,088 795 60,440 7,100 (600) 7,100 (300) 19,000 19,000 (2,320) (1,160) $130,268 $85,080 $ 1,140 $ 0 935 0 935 580 1,500 3,220 108,000 21,333 74,000 7,860 $130,268 $85,080