Use Direct method.

Required information 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 Y HW - Chapter 16 er 31, 2017 $142,200 Sales revenue Expenses Cost of goods sold Depreciation expense Salaries expense Rent expense Insurance expense Interest expense Utilities expense 57,000 19,500 33,000 10,500 5,300 5,100 4,300 $ 7,500 Net income LANSING COMPANY Selected Balance Sheet Accounts At December 31 Accounts receivable Inventory Accounts payable Salaries payable Utilities payable Prepaid insurance Prepaid rent 2017 2016 $7,100 $8,800 3,480 2,290 5,900 7,600 850 310 580 330 1,180 520 410 520 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.) LANSING COMPANY Cash Flows from Operating Activities-Direct Method For Year Ended December 31, 2017 Cash flows from operating activities Cash receipts from customers $ 143,900 $ 143,900