Required information [The following information applies to the questions displayed below.) The following Cash T-account shows the total debits and total credits to the Cash account of Thomas Corporation for the current year. $ Balance, Dec. 31, prior year Receipts from customers Receipts from dividends Receipts from land sale Receipts from machinery sale Receipts from issuing stock Receipts from borrowing Cash 333,000 5,000,000 Payments for inventory 208,400 Payments for wages 220,000 Payments for rent 710,000 Payments for interest 1,540,000 Payments for taxes 3,600,000 Payments for machinery Payments for stock investments Payments for note payable Payments for dividends Payments for treasury stock $ 2,590,000 550,000 320,000 218,000 450,000 2,236,000 1,260,000 386,000 500,000 218,000 Balance, Dec. 31, current year $ (2) Refer to the statement of cash flows for part 1 to answer the following questions a through d: a. (i) Which section shows the largest cash inflow? (ii) Which section shows the largest cash outflow? b. What is the largest individual item among the investing cash outflows? c. The cash proceeds are larger from: d. From borrowing activities the company has: 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 31 Sales revenue $ 97,200 Expenses Cost of goods sold 42,000 Depreciation expense 12,000 Salaries expense 18,000 Rent expense 9,000 Insurance expense 3,800 Interest expense 3,600 Utilities expense Net income $ 6,000 2,800 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Accounts receivable $ 5,600 Inventory 1,980 Accounts payable 4,400 Salaries payable Utilities payable 220 Prepaid insurance 260 Prepaid rent 220 Prior Year $5,800 1,540 4,600 700 160 280 180 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.) LANSING COMPANY Cash Flows from Operating ActivitiesIndirect Method For Current Year Ended December 31 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operations