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 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 $ 6,300 $ 7,200 2,680 1,890 5,100 6,000 1,020 770 360 230 330 420 360 250