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 $ 97,200 42,000 12,000 18,000 9,000 3,800 3,600 2,800 $ 6,000 LANSING COMPANY Selected Balance Sheet Accounts Current Year At December 31 Accounts receivable Inventory Accounts payable Salaries payable. Utilities payable Prepaid insurance Prepaid rent Prior Year $ 5,600 $ 5,800 1,980 1,540 4,400 4,600. 880 700 220 160 260 280 220 180 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 Activities-Indirect Method Cash flows from operating activities: Net income For Current Year Ended December 31 Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Depreciation expense Changes in current assets and current liabilities Decrease in accounts payable $ 6,000 + $ 12,000 12,000 $ 18,000 Required: Prepare the operating activities section of the statement of cash flows using the direct method for the current year. (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 $ 0