sheet data (for current assets and Lake Company's 2016 income statement and selected balance liabilities) at December 31, 2015 and 2016, follow PROBL EM SETE Problem 12-18 Indirect: Computing cash flows from operations LAKE COMPANY Income Statement For Year Ended December 31, 2016 P2 LAKE COMPANY Selected Balance Sheet Accounts 72,000 At December 31 Accounts receivable...$3,600 $300 2016 201 The b. Sold equ 20,000 5,000 2,600 2,400 2,000 20,000 e Purchase for the b d. Borrow e. Paid $4 f. Issued 3 g. Declare 860 Accounts payable.2400 20 900 00 200 0 ....140 180 .100 200 Utilities payable Net income Prepaid rent