Lansing Company's 2017 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2016 and 2017, follow LANSING COMPANY Income Statement For Year Ended December 31, 2017 Sales revenue Expenses $157,200 Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense 62,000 22,000 38,000 11,000 5,800 5,600 4,800 $ 8,000 Net income LANSING COMPANY Selected Balance Sheet Accounts 2016 At December 31 Accounts receivable Inventory Accounts payable Salaries payable Utilities payable Prepaid insurance Prepaid rent 2017 $7,600 9,800 3,980 2,540 8,600 900 360 680 380 6,400 1,280 620 460 620