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 $ 130,200 Expenses Cost of goods sold 53,000 Depreciation expense 17,500 Salaries expense 29,000 Rent expense 10,100 Insurance expense 4,900 Interest expense 4,700 Utilities expense 3.900 Net income $ 7,100 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Prior Year Accounts receivable $ 6,700 $ 8,000 Inventory 3,080 2,090 Accounts payable 5,500 6,800 Salaries payable 1,100 810 Utilities payable 440 270 Prepaid insurance 370 500 Prepaid rent 440 290 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 For Current Year Ended December 31 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 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