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 $ 121,200 Expenses Cost of goods sold 50,000 Depreciation 16,000 expense Salaries expense 26,000 Rent expense 9,800 Insurance expense 4,600 Interest expense 4,400 Utilities expense 3,600 Net income $ 6,800 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Prior Year Accounts $ 6,400 receivable $ 7,400 Inventory 2,780 1,940 Accounts payable 5,200 6,200 Salaries payable 1,040 780 Utilities 380 240 payable Prepaid 340 440 insurance Prepaid rent 380 260 Problem 12-1A (Algo) Indirect: Computing cash flows from operations LO P2 Required: Prepare the operating activities section of the statement of cash flows using the indirect method for the current year. (Amounts to be deducted should be indicated with a minus sign.) LANSING COMPANY Cash Flows from Operating ActivitiesIndirect Method For Current Year Ended December 31 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Changes in current assets and current liabilities 0 $ 0