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

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.)

LANSING COMPANY Income Statement For Year Ended December 31, 2017 $127,200 Sales revenue Expenses Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense 52,000 17,000 28,000 10,000 4,800 4,600 3,800 $7,000 Net income LANSING COMPANY SelectedBalance Sheet Accounts 2017 2016 At December 31 Accounts receivable Inventory Accounts payable Salaries payable Utilities payable Prepaid insurance Prepaid rent $6,600 $7,800 2,040 6,600 800 260 480 280 2,980 5,400 1,080 420 360 420