income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2016 and 2017, follow. LANSING COMPANY Income Statenent Fo Sales revenue Expenses 2017 $151, 2003 Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense 60,000 21,000 36, 000 10, 800 5, 600 5,400 4, 600 s 7, 800 Net income LANSING-COMPANY Selected Balance Sheet Accounts 2017 2016 At December 31 Accounts receivable Inventory Accounts payable Salaries payable Utilities payable Prepaid insurance $7,400 $9, 400 3, 780 2,440 6, 200 8, 200 1,240880 340 440 640 580