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 $ 148,200 Expenses Cost of goods sold 59,000 Depreciation expense 20,500 Salaries expense 35,000 Rent expense 10,700 Insurance expense 5,500 Interest expense 5,300 Utilities expense 4,500 Net income $ 7,700 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Prior Year Accounts receivable $ 7,300 $ 9,200 Inventory 3,680 2,390 Accounts payable 6,100 8,000 Salaries payable 1,220 Utilities payable 560 330 Prepaid insurance 430 620 Prepaid rent 560 350 870 Utilities payable Prepaid insurance Prepaid rent 560 430 560 330 620 350 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 Mothod For Current Year Ended December 31 Cash flows from operating activities Cash receipts from customers 150,100 Cash payments for salaries Cash payments for rent Cash payments for insurance Cash payments for utilities Cash payments for interest $ 150,100 Net cash provided by operating activities