! Required information [The following information applies to the questions displayed below.) Lansing Company's 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 311 Sales revenue Expenses Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense Net income $ 97,200 42,000 12,000 18,000 9,000 3,800 3,600 2,800 $ 6,000 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Prior Year Accounts receivable $5,600 Inventory 1,980 $ 5,800 1,540. Accounts payable 4,400 4,600 Salaries payable 880 700 Utilities payable. 220 160 Prepaid insurance 260 280 Prepaid rent 220 180 2 Required: Prepare the operating activities section of the statement of cash flows using the direct method for the current year. Note: Amounts to be deducted should be indicated with a minus sign. LANSING COMPANY Cash Flows from Operating Activities-Direct Method For Current Year Ended December 31. Cash flows from operating activities