Required Information Use the following Information for the Problems below. (Algo) [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 Expenses Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense Net income $ 112,200 47,000 14,500 23,000 9,500 4,300 4,100 3,300 $ 6,500 At December 31 Accounts receivable LANSING COMPANY Selected Balance Sheet Accounts Prior Year $ 6,800 Current Year $ 6,100 Inventory 2,480 1,790 Accounts payable 4,900 5,600 Salaries payable 989 750 Utilities payable 329 210 Prepaid insurance 310 380 Prepaid rent 329 230 Problem 16-1A (Algo) Indirect: Computing cash flows from operations LO P2 Required: Prepare the operating activities section of the statement of cash flows using the mored 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: Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Changes in current assets and current liabilities 0 $ 0