Required information

Lansing Companys 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
Sales revenue	$	127,200
Expenses
Cost of goods sold		52,000
Depreciation expense		17,000
Salaries expense		28,000
Rent expense		10,000
Insurance expense		4,800
Interest expense		4,600
Utilities expense		3,800
Net income	$	7,000

LANSING COMPANY Selected Balance Sheet Accounts
At December 31	2017			2016
Accounts receivable	$	6,600		$	7,800
Inventory		2,980			2,040
Accounts payable		5,400			6,600
Salaries payable		1,080			800
Utilities payable		420			260
Prepaid insurance		360			480
Prepaid rent		420			280

Required: Prepare the cash flows from operating activities section only of the companys 2017 statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

3 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. 0.26/2.33 points awarded LANSING COMPANY Income Statement For Year Ended December 31, 2017 Scored Sales revenue $127,200 Expenses Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense 52,000 17,000 28,000 10,000 4,800 4,600 3,800 $ 7,000 eBook Ask Net income Print LANSING COMPANY Selected Balance Sheet Accounts At December 31 Accounts receivable Inventory Accounts payable Salaries payable Utilities payable Prepaid insurance Prepaid rent 2017 2016 $6,600 $7,800 2,980 2,040 5,400 6,600 800 260 480 280 References 1,080 420 360 420 Required: Prepare the cash flows from operating activities section only of the company's 2017 statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)