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Required information Skip to question [The following information applies to the questions displayed below.] Lansing Companys current-year income statement and selected balance sheet data at

Required information

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[The following information applies to the questions displayed below.] 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 $ 103,200
Expenses
Cost of goods sold 44,000
Depreciation expense 13,000
Salaries expense 20,000
Rent expense 9,200
Insurance expense 4,000
Interest expense 3,800
Utilities expense 3,000
Net income $ 6,200

LANSING COMPANY Selected Balance Sheet Accounts
At December 31 Current Year Prior Year
Accounts receivable $ 5,800 $ 6,200
Inventory 2,180 1,640
Accounts payable 4,600 5,000
Salaries payable 920 720
Utilities payable 260 180
Prepaid insurance 280 320
Prepaid rent 260 200

Required: Prepare the operating activities section of the statement of cash flows using the direct method for the current year. (Amounts to be deducted should be indicated with a minus sign.)

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