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 $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 Accounts receivable $ 6,70 Inventory 3,080 Accounts payable 5,500 Salaries payable 1,100 Utilities payable 440 Prepaid insurance 370 Prepaid rent 440 Prior Year $ 8,000 2,090 6,800 810 270 500 290 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.) LANSING COMPANY Cash Flows from Operating Activities Indirect Method For Current Year Ended December 31 Cash flows from operating activities et income Adpustments to reconcile net income to net cash provided by operations Depreciation expense $ 17.500 Inventory increase Accounts payable decrease Salaries payable increase Uits payable cene Pridrunt increase Prepaid insurance decrease 18,490 Netcash provided by operating activities 16400