Required Information Use the following information for the Problems below. [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 2.900 Net Income $7.100 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Accounts receivable 56,700 Inventory 3,080 Accounts payable 5,500 Salaries payable 1.100 Deilities payable 460 Prepaid insurance 370 Prepaid rent 440 Prior Year $8,000 2,090 6.000 310 270 500 Problem 16-2AB Direct: Computing cash flows from operations LO P5 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 Cashflows from operating activities