Lansing Companys 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 $ 112,200 Expenses Cost of goods sold 47,000 Depreciation expense 14,500 Salaries expense 23,000 Rent expense 9,500 Insurance expense 4,300 Interest expense 4,100 Utilities expense 3,300 Net income $ 6,500 LANSING COMPANY Selected Balance Sheet Accounts At December 31 2017 2016 Accounts receivable $ 6,100 $ 6,800 Inventory 2,480 1,790 Accounts payable 4,900 5,600 Salaries payable 980 750 Utilities payable 320 210 Prepaid insurance 310 380 Prepaid rent 320 230 Problem 12 1A Indirect Computing cash flows from operations LO P2 Required Prepare the cash flows from operating activities section only of the companys 2017 statement of cash flows using the indirect method (Amounts to be deducted should be indicated with a minus sign )

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Lansing Companys 2017 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2016 and 2017, follow. LANSING COMPANY

Lansing Companys 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	$	112,200
Expenses
Cost of goods sold		47,000
Depreciation expense		14,500
Salaries expense		23,000
Rent expense		9,500
Insurance expense		4,300
Interest expense		4,100
Utilities expense		3,300
Net income	$	6,500

LANSING COMPANY Selected Balance Sheet Accounts
At December 31	2017		2016
Accounts receivable	$	6,100	$	6,800
Inventory		2,480		1,790
Accounts payable		4,900		5,600
Salaries payable		980		750
Utilities payable		320		210
Prepaid insurance		310		380
Prepaid rent		320		230

Problem 12-1A Indirect: Computing cash flows from operations LO P2

Required: Prepare the cash flows from operating activities section only of the companys 2017 statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)