Required information Lansing Company's 2017 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2016 and 2017, follow LANSING COMPANY Income Statement For Year Ended December 31, 2017 $148,200 Sales revenue Expenses Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense 59,000 20,500 35,000 10,700 5,500 5,300 4,500 $ 7,700 Net income LANSING COMPANY Selected Balance Sheet Accounts 2017 At December 31 Accounts receivable Inventory Accounts payable Salaries payable Utilities payable Prepaid insurance Prepaid rent 2016 $7,300 $9,200 3,680 2,390 6,100 8,000 870 330 620 350 1,220 560 430 560