LANSING COMPANY Income Statement For Year Ended December 31, 2017 Sales revenue Expenses $97,200 Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense 42,000 12,e00 18,000 9,000 3,800 3,600 2,800 $ 6,000 Net income LANSING COMPANY Selected Balance Sheet Accounts 2017 2016 At December 31 Accounts receivable Inventory Accounts payable Salaries payable Utilities payable Prepaid insurance Prepaid rent $ 5,600 $ 5,800 1,980 1,540 4,400 4,600 700 160 280 180 880 220 260 220 Prev 2