[The following information applies to the questions displayed below] Lansing Company's current-year income statement and selected balance sheet date at December 31 of the current and prior years follow LANSING COMPANY Income Statement Far Current Year Ended December 31 Sales revenue $136,200 Expenses Cost of goods sold 55,000 Depreciation expense 18,500 Salaries expense 31,000 Rent expense 10,300 Insurance expense Interest expense 4,900 Utilities expense 4,100 Net income $ 7,300 5.100 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Accounts receivable $ 6,900 Inventory 3,280 Accounts payable 5,700 Salaries payable 1,140 Utilities payable 480 Prepaid Insurance 390 Prepaid rent 480 Prior Year $ 8,400 2,190 7,200 830 290 540 310 Required: Prepare the operating activities section of the statement of cash flows using the direct method for the current year. (Amounts to be deducted should be indicated with a minus sign.) 4 LANSING COMPANY Cash Flows from Operating Activities Direct Method For Current Year Ended December 31 Cash flows from operating activities Cash receipts from customers Cash payments to suppliers Cash payments for salaries Cash payments for rent Cash payments for insurance Cash payments for interest Cash payments for utilities