Sove & Exit Submit Help C G Search Google or type a URL er 12 Practice (EC) eck my work mode: This shows what is correct or incorrect for the work you have completed so far, it does not indicate completion. Return to question UT Required information The following information applies to the questions displayed below] 2 of 2 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 Sales revenue $ 97,200 Cost of goods sold Depreciation expense Salaries expense 42.000 12,000 18,000 9,800 3.800 3,600 Insurance expense Interest expense Utilities expense Net Income $ 6,000 LANSING COMPANY Selected Balance Sheet Accounts At December 31 2017 Accounts receivable $ 5,600 Inventory 1,90 Accounts payable Salaries payable utilities payable Prepaid Insurance Prepaid rent 2016 $5,800 1,540 4.600 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.) Type here to search - 12 Practice Return to question heck my work mode: This shows what is correct or incorrect for the work your indicate completion. At December 31 Accounts receivable 2017 $ 5,600 1,950 2016 55,800 1,540 4.600 Inventory Accounts payable Salaries payable Utilities payable Prepaid Insurance Prepaid rent 202 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.) Answer is complete but not entirely correct. LANSING COMPANY Cash Flows from Operating Activities-Direct Method for Year Ended December 31, 2017 Cash Bows from operating activities Cash payments for insurance Cash payments for interest Cash payments for rent Cash payments for salaries Cash payments fortes Cash payments to suppliers Cash receipts from customers 14010 OOC OOOO Net cash provided by opening activities S 96.340 Type here to search