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 $ 151,200 60,000 21,000 36,000 10,800 5,600 5,400 4,600 $ 7,800 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Accounts receivable Inventory Accounts payable Salaries payable Utilities payable Prepaid insurance Prepaid rent Current Year Prior Year $ 7,400 $ 9,400 3,780 2,440 6,200 8,200 1,240 880 580 340 440 640 580 360