LANSING COMPANY Income Statement For Year Ended December 31, 2015 Sales revenue $ 59,000 Expenses Cost of goods sold 21,000 Depreciation 4,000 expense Salaries expense 11,000 Rent expense 3,000 Insurance expense 1,400 Interest expense 1,500 Utilities expense 1,600 Net income $ 15,500 LANSING COMPANY Selected Balance Sheet Accounts At December 31 2015 2014 Accounts $3,800 $3,900 receivable Inventory 950 900 Accounts 1,100 1,200 payable Salaries payable 420 310 Utilities payable 110 70 Prepaid 80 100 insurance Prepaid rent 110 Required: Prepare the cash flows from operating activities section only of the company's 2015 statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Answer is not complete. LANSING COMPANY Cash Flows from Operating ActivitiesIndirect Method For Year Ended December 31, 2015 Cash flows from operating activities: Net income $ 15,500 | Adjustments to reconcile net income to net cash provided by operations: so Depreciation expense Accounts receivable decrease Inventory increase Accounts payable decrease Salaries payable increase Utilities payable increase Prepaid insurance decrease Prepaid rent increase 4,000 100 (50) (100 110 20 (20 4,100 $ 19,600