Required: Prepare the cash flows from operating activities section only of the company's 2017 statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.) LANSING COMPANY Cash Flows from Operating Activities-Direct Method For Year Ended December 31, 2017 Cash flows from operating activities 0 Required information [The following information applies to the questions displayed below.] Lansing Company's 2017 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2016 and 2017, follow LANSING COMPANY Income Statement For Year Ended December 31, 2017 $115,200 Sales revenue Expenses Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense 48,000 15,000 24,000 9,600 4,400 4,200 3,400 $6,600 Net income LANSING COMPANY Selected Balance Sheet Accounts 2017 2016 At December 31 Accounts receivable Inventory Accounts payable Salaries payable Utilities payable Prepaid insurance Prepaid rent $6,200 $7,000 2,580 1,840 5,000 5,800 760 220 400 240 1,000 340 320 340 Required: Prepare the cash flows from operating activities section only of the company's 2017 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, 2017 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operations: 0 0