Lansing Companys 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	$	100,200
Expenses
Cost of goods sold		43,000
Depreciation expense		12,500
Salaries expense		19,000
Rent expense		9,100
Insurance expense		3,900
Interest expense		3,700
Utilities expense		2,900
Net income	$	6,100

LANSING COMPANY Selected Balance Sheet Accounts
At December 31	Current Year					Prior Year
Accounts receivable		$	5,700				$	6,000
Inventory			2,080					1,590
Accounts payable			4,500					4,800
Salaries payable			900					710
Utilities payable			240					170
Prepaid insurance			270					300
Prepaid rent			240					190

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.)

Part two same points/question on assignment:

Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, and (5) Other Expenses are paid in advance and are initially debited to Prepaid Expenses.

FORTEN COMPANY Comparative Balance Sheets December 31
	Current Year						Prior Year
Assets
Cash		$	60,400					$	80,500
Accounts receivable			76,340						57,625
Inventory			286,156						258,800
Prepaid expenses			1,280						2,035
Total current assets			424,176						398,960
Equipment			150,500						115,000
Accum. depreciationEquipment			(40,125	)					(49,500	)
Total assets		$	534,551					$	464,460
Liabilities and Equity
Accounts payable		$	60,141					$	125,175
Short-term notes payable			12,100						7,400
Total current liabilities			72,241						132,575
Long-term notes payable			61,500						55,750
Total liabilities			133,741						188,325
Equity
Common stock, $5 par value			173,250						157,250
Paid-in capital in excess of par, common stock			48,000						0
Retained earnings			179,560						118,885
Total liabilities and equity		$	534,551					$	464,460

FORTEN COMPANY Income Statement For Current Year Ended December 31
Sales				$	617,500
Cost of goods sold					292,000
Gross profit					325,500
Operating expenses
Depreciation expense	$	27,750
Other expenses		139,400			167,150
Other gains (losses)
Loss on sale of equipment					(12,125	)
Income before taxes					146,225
Income taxes expense					34,050
Net income				$	112,175

Additional Information on Current Year Transactions

1. The loss on the cash sale of equipment was $12,125 (details in b).
2. Sold equipment costing $67,875, with accumulated depreciation of $37,125, for $18,625 cash.
3. Purchased equipment costing $103,375 by paying $44,000 cash and signing a long-term note payable for the balance.
4. Borrowed $4,700 cash by signing a short-term note payable.
5. Paid $53,625 cash to reduce the long-term notes payable.
6. Issued 3,200 shares of common stock for $20 cash per share.
7. Declared and paid cash dividends of $51,500.

Required: 1. Prepare a complete statement of cash flows using the indirect method for the current year.