Lansing Company's current$-$year income statement and selected balance sheet data at December $31$ of the current and prior years follow.

LANSING COMPANY

Income Statement

For Current Year Ended December $31$

Sales revenue

$$148,200$

Expenses

$\backslash$table$[[$Cost of goods sold,$59,000],[$Depreciation expense,$20,500],[$Salaries expense,$35,000],[$Rent expense,$10,700],[$Insurance expense,$5,500],[$Interest expense,$5,300],[$Utilities expense,$4,500],[$let income,$$7,700$