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 Expenses Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense Net income $ 118,200 49,000 15,500 25,000 9,700 4,500 4,300 3,500 $ 6,700 At December 31 Accounts receivable Inventory Accounts payable Salaries payable LANSING COMPANY Selected Balance Sheet Accounts Prior Year $ 7,200 1,890 Current Year $ 6,300 2,680 5,100 6,000 1,020 770 Utilities payable Prepaid insurance Prepaid rent 360 230 330 420 360 250 Required: Prepare the operating activities section of the statement of cash flows using the direct method for the current year. Note: Amounts to be deducted should be Indicated with a minus sign. LANSING COMPANY Cash Flows from Operating Activities-Direct Method For Current Year Ended December 31 Cash flows from operating activities