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Required information The following information applies to the questions displayed below) Lansing Company's 2018 income statement and selected balance sheet data (for current assets and

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Required information The following information applies to the questions displayed below) Lansing Company's 2018 income statement and selected balance sheet data (for current assets and current liabilitles) at December 31, 2017 and 2018, follow. LANSING COMPANY Income Statement For Year Ended December 31, 2018 Sales revenue $103, 2e Expenses Cost of goods sold 44,000 Depreciation expense 13, eee Salaries expense 20,000 Rent expense 9,200 Insurance expense 4,000 Interest expense 3.800 Utilities expense 3.ee Net income $6,200 LANSING COMPANY Selected Balance Sheet Accounts At December 31 2018 2017 Accounts receivable $5,800 $ 6,200 Inventory 2,180 1,640 Accounts payable 4,6ee 5.ee Salaries payable 720 utilities payable 180 Prepaid insurance 280 320 Prepaid rent 260 200 920 Required: Prepare the cash flows from operating activities section only of the company's 2018 statement of cash flows using the indirect method (Amounts to be deducted should be indicated with a minus sign.) LANSING COMPANY Cash Flows from Operating Activities--Indirect Method For Year Ended December 31, 2018 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Depreciation expense Accounts receivable decrease Changes in cu operating assets and liabilities Inventory increase Accounts payable decrease Salaries payable increase Utilities payable increase Prepaid insurance decrease Prepaid rent increase OO Net cash provided by operating activities $

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