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 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 )

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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	$ 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.)