Salaries expense Rent expense Insurance expense Interest expense 28,000 10,000 4,800 4,600 Utilities expense 3,000 Net income $ 7,000 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Accounts receivable Inventory Accounts payable Salaries payable Utilities payable Prepaid insurance Prepaid rent Current Year Prior Year $6,600 $7,800 2,980 2,040 5,400 6,600 1,000 BOB 420 260 360 480 420 280 Required: Prepare the operating activities section of the statement of cash flows using the indirect method for the current year. (Amounts to be deducted should be indicated with a minus sign.) 9 S 4 Prev 1 2 Score answer > 43 87318 A T 5 C O 7 B 9 T 2 t Y 0 1 9 0 O 9 P g h j K C V b n E d V 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 $127,200 52,000 17,000 28,000 10,000 4,800 Interest expense 4,600 utilities expense 3,800 Net income $ 7,000 LANSING COMPANY Selected Balance Sheet Accounts At December 21 Accounts receivable Inventory Accounts payable. Salaries payable Utilities savable Current Year Prior Year 16,000 $7,800 2,980 2,040 5,400 6,600 1,080 800 420 260 Prov 1 2 of 4 4 39 0 42 5 B d 0 L V 44 9 6 3N 7 Y Score answer > 0 4