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 Coat of goods sold 42,000 Depreciation expense 12,000 Salaries expense 19,000 Tent expense 9.000 Insurance expense 3,800 Interest expense 3,600 Utilities expense 2.800 Not incon 0 6,000 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Mccounts receivable $5.600 Inventory 1.980 Accounts payable 4,400 talarios payable 880 Utilities payable Prepaid Insurance 360 Prepaid tons 220 Prior Year $5,800 1.540 4,600 700 160 280 180 229 Required: Denna thenerstin tin that Check LARRARE Selected Balance Sheet Accounts At December 31 Current Year Accounts receivable $5,600 Inventory 1,989 Accounts payable 4.400 Salaries payable 880 Utilities payable 220 Prepaid insurance 260 Prepaid rent 220 Prior Year $5,800 1.540 4.600 700 160 200 100 Required: Prepare the operating activities section of the statement of cash flows using the direct method for the current year. (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 5.000