1 5 points Required information [The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. eBook Print LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $ 142,200 Expenses Cost of goods sold 57,000 Depreciation expense 19,500 Salaries expense 33,000 Rent expense 10,500 Insurance expense 5,300 Interest expense 5, 100 Utilities expense 4,300 Net income $ 7,500 References LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Prior Year Accounts receivable $ 7,100 $ 8,800 Inventory 3,480 2,290 Accounts payable 5,900 7,600 Salaries payable 1,180 850 Utilities payable 520 310 Prepaid insurance 410 580 Prepaid rent 520 330 Required: 1 $ 7,109 Accounts receivable Inventory Accounta payable Salaries payable Utilities payable Prepaid insurance Prepaid rent 3,480 5,900 1,180 520 410 520 SR 8,800 2,290 7,600 850 310 580 330 5 points Required: Prepare the operating activities section of the statement deducted should be indicated with a minus sign.) cash flows using the indirect method for the current year. (Amounts to be eBook Print LANSING COMPANY Cash Flows from Operating Activities-Indirect Method For Current Year Ended December 31 Cash flows from operating activities: References Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Changes in current assets and current liabilities