Required information [The following information applies to the questions displayed below.] 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 $ 151,200 Expenses Cost of goods sold 60,000 Depreciation expense 21,000 Salaries expense 36,000 Rent expense 10,800 Insurance expense 5,600 Interest expense 5,400 Utilities expense 4,600 Net income 7,800 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Accounts receivable $ 7,400 Inventory 3,780 Accounts payable 6,200 Salaries payable 1,240 Utilities payable 580 Prepaid insurance 440 Prepaid rent 580 Prior Year $ 9,400 2,440 8,200 880 340 640 360 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 ActivitiesIndirect Method For Current Year Ended December 31 Cash flows from operating activities: Adjustments to reconcile net income to net cash provided by operations: 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.) LANSING COMPANY Cash Flows from Operating ActivitiesDirect Method For Current Year Ended December 31 Cash flows from operating activities