SP $12$ Serial Problem Business Solutions $($Indirect$)($Algo$)$ LO P$2,$ P$3$

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 $31,2022$

Computer services revenue $ $24,407$

Net sales $18,693$

Total revenue $43,100$

Cost of goods sold $ $14,952$

Depreciation expense$$Office equipment $350$

Depreciation expense$$Computer equipment $1,150$

Wages expense $3,250$

Insurance expense $465$

Rent expense $1,875$

Computer supplies expense $1,275$

Advertising expense $570$

Mileage expense $310$

Repairs expense$$Computer $910$

Total expenses $25,107$

Net income $ $17,993$

BUSINESS SOLUTIONS

Comparative Balance Sheets

March $31,2022$ December $31,2021$

Assets