Question

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				$	24,307
Net sales					18,593
Total revenue					42,900
Cost of goods sold	$	14,652
Depreciation expense—Office equipment		400
Depreciation expense—Computer equipment		1,240
Wages expense		3,150
Insurance expense		535
Rent expense		1,875
Computer supplies expense		1,255
Advertising expense		580
Mileage expense		300
Repairs expense—Computer		870
Total expenses					24,857
Net income				$	18,043

BUSINESS SOLUTIONS
Comparative Balance Sheets
December 31, 2019, and March 31, 2020
	Mar. 31, 2020						Dec. 31, 2019
Assets
Cash		$	83,357					$	58,322
Accounts receivable			23,567						5,068
Inventory			654						0
Computer supplies			2,045						550
Prepaid insurance			1,020						1,585
Prepaid rent			815						815
Total current assets			111,458						66,340
Office equipment			7,300						7,300
Accumulated depreciation—Office equipment			(800	)					(400	)
Computer equipment			19,600						19,600
Accumulated depreciation—Computer equipment			(2,480	)					(1,240	)
Total assets		$	135,078					$	91,600
Liabilities and Equity
Accounts payable		$	0					$	1,160
Wages payable			975						580
Unearned computer service revenue			0						1,700
Total current liabilities			975						3,440
Equity
Common stock			112,000						80,000
Retained earnings			22,103						8,160
Total liabilities and equity		$	135,078					$	91,600

Required:
Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2020. Owner Santana Rey contributed $32,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4,100 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.)