The following information applies to the questions displayed below! Lansing Company's current year income statement and selected balance sheet data at Decerpber 31 of the current and prior years follow LANSING COMPANY Income tant Tot current Year Ended December 31 Sales TV S 142,200 Expono Cost of goods sold 57.000 Depreciation expense 19.500 Salarie expense 33,000 Rent axpune 10, 500 Indurance expense 5.300 Interest exponen 5, 100 Utilities expense 4,300 Net inden $ 7.500 LASING COMPANY selected Balance Shoot Accounts At December 31 Current Year Prior Year Account receivable 57.100 $ 8.900 Taventory 3,480 2.290 Recounts payable 5,900 2,500 salarial payable 1,180 $50 Utilities payable 520 310 Drepaid ansurance 440 580 Prepaid rane 520 330 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.) LANSING COMPANY Cash Flows from Operating Activities - Indirect Method For Current Year Ended December 31 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by oporabons Income statomont toms not affecting cash Changes in current assets and current liabilities ANSING COMPANY Cash Flows from Operating Activities Indirect Method For Current Year Ended December 31 Cash flows from operating activities ces Net Income Net loss He Une Cash provided by operations Income statement items not affecting cash Decrease in accounts payable Decrease in accounts receivable Decrease in inventory Decrease in prepaid insurance Prev 2 of 4 !!! Next >