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HELP! Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow LANSING COMPANY Income Statement
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Lansing Company's current-year income statement and selected balance sheet data at December 31 of the current and prior years follow LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $112,200 Expenses Cost of goods sold 47.000 Depreciation expense 14,500 Salaries expense 23,000 Rent expense 9,500 Insurance expense Interest expense 4.100 Utilities expense 3,300 Net Income $6,500 4.300 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Accounts receivable $ 6,100 Inventory 2,480 Accounts payable 4.900 Salaries payable 980 Utilities payable 320 Prepaid insurance 310 Prepaid cent 320 Prior Year $ 6,800 1,790 5,600 750 210 380 230 Required information Requirea: Prepare the operating activities section of the statement of cash flows using the indirect method for the current year. (Amounts to be deducted should be indicated with a minus sign.) LANSING COMPANY Cash Flows from Operating Activities - Indirect Method For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operations 0 0 Step by Step Solution
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