says incomplete

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 $133,200 Expenses Cost of goods sold 54,000 Depreciation expense 18,000 Salaries expense 30,000 Rent expense 10,200 Insurance expense 5,000 Interest expense 4,800 Utilities expense 4,000 Net income $ 7,200 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Accounts receivable $6,800 Inventory 3,180 Accounts payable 5,600 Salaries payable 1,120 Utilities payable 460 Prepaid insurance 380 Prepaid rent 460 Prior Year $8,200 2,140 7,000 820 280 520 300 X Answer is not complete. LANSING COMPANY Cash Flows from Operating ActivitiesIndirect Method For Current Year Ended December 31 Cash flows from operating activities: Net income $ 7,200 Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Depreciation expense 18,000 Changes in current assets and current liabilities Decrease in accounts receivable 1,400 Increase in inventory (1,040) Decrease in accounts payable (1,400) Increase in salaries payable 300 Increase in utilities payable 180 Decrease in prepaid insurance 140 Increase in prepaid rent (160) 17,420 24,620 $ LANSING COMPANY Cash Flows from Operating ActivitiesIndirect Method For Current Year Ended December 31 Cash flows from operating activities: Net income $ 7,200 Adjustments to reconcile net income to net cash provided by operations: Income statement items not affecting cash Depreciation expense 18,000 Changes in current assets and current liabilities Decrease in accounts receivable 1,400 Increase in inventory (1,040) Decrease in accounts payable (1,400) Increase in salaries payable 300 Increase in utilities payable 180 Decrease in prepaid insurance 140 Increase in prepaid rent (160) 17,420 24,620 $