Lansing Companys 2015 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2014 and 2015, follow.

LANSING COMPANY Income Statement For Year Ended December 31, 2015
Sales revenue	$	64,000
Expenses
Cost of goods sold		20,000
Depreciation expense		5,500
Salaries expense		12,000
Rent expense		2,500
Insurance expense		1,300
Interest expense		1,600
Utilities expense		1,300
Net income	$	19,800

LANSING COMPANY Selected Balance Sheet Accounts
At December 31	2015		2014
Accounts receivable	$	3,700		$	3,800
Inventory		850			760
Accounts payable		1,200			1,280
Salaries payable		430			310
Utilities payable		140			110
Prepaid insurance		90			110
Prepaid rent		140			100

Required:

Prepare the cash flows from operating activities section only of the companys 2015 statement of cash flows using the indirect method.(Amounts to be deducted should be indicated with a minus sign.)

Forten Company, a merchandiser, recently completed its calendar-year 2015 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses. The companys income statement and balance sheets follow.

FORTEN COMPANY Comparative Balance Sheets December 31, 2015 and 2014
	2015		2014
Assets
Cash	$	52,779		$	65,500
Accounts receivable		70,025			54,625
Inventory		269,656			243,800
Prepaid expenses		1,340			1,775
Total current assets		393,800			365,700
Equipment		149,175			107,000
Accum. depreciationEquipment		(40,150)			(47,000)
Total assets	$	502,825		$	425,700
Liabilities and Equity
Accounts payable	$	59,375		$	109,250
Short-term notes payable		7,400			4,700
Total current liabilities		66,775			113,950
Long-term notes payable		34,325			36,500
Total liabilities		101,100			150,450
Equity
Common stock, $5 par value		157,750			146,750
Paid-in capital in excess of par, common stock		33,000			0
Retained earnings		210,975			128,500
Total liabilities and equity	$	502,825		$	425,700

FORTEN COMPANY Income Statement For Year Ended December 31, 2015
Sales				$	602,500
Cost of goods sold					293,000
Gross profit					309,500
Operating expenses
Depreciation expense	$	18,700
Other expenses		128,600			147,300
Other gains (losses)
Loss on sale of equipment					(4,175)
Income before taxes					158,025
Income taxes expense					27,750
Net income				$	130,275

Additional Information on Year 2015 Transactions
a.	The loss on the cash sale of equipment was $4,175 (details inb).
b.	Sold equipment costing $44,175, with accumulated depreciation of $25,550, for $14,450 cash.
c.	Purchased equipment costing $86,350 by paying $47,000 cash and signing a long-term note payable for the balance.
d.	Borrowed $2,700 cash by signing a short-term note payable.
e.	Paid $41,525 cash to reduce the long-term notes payable.
f.	Issued 2,200 shares of common stock for $20 cash per share.
g.	Declared and paid cash dividends of $47,800.

Required:
1.	Prepare a complete statement of cash flows; report its operating activities using the indirect method.(Amounts to be deducted should be indicated with a minus sign.)